On August 20, CHALCO rose 3.11% in regular trading, trading at HKD 8.47 per share, with turnover of HKD 37.52 million, rebounding after consecutive sessions of pressure from Middle East production resumption expectations.
On the news front, the company announced its board will convene on August 27 to review first-half interim results and consider an interim dividend proposal. The company previously guided H1 net profit attributable to shareholders of RMB 11.2 billion to 12.2 billion, representing year-over-year growth of 58% to 73%, with earnings delivery expectations and potential dividends providing a boost to market sentiment.
On the supply side, Brazil's Alunorte alumina plant cut production by 50% due to a natural gas supply interruption, lending support to overseas alumina prices and partially offsetting downward pressure on aluminum prices previously caused by the Middle East capacity restart outlook. Additionally, controlling shareholder Chinalco Group has cumulatively increased its stake by approximately RMB 659 million as part of an ongoing buyback plan of RMB 1 billion to 2 billion, reinforcing confidence.
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