Movement Alert|Chalco Rises 3.01% in Regular Trading, US-Iran Military Conflict Reverses Middle East Aluminum Supply Recovery Expectations

Market Focus
Jun 29

On June 29, Chalco rose 3.01% in regular trading, trading at HKD 7.85/share, with turnover of HKD 262 million.

On the news front, the US conducted military strikes on Iranian missile and drone storage sites on June 28, reigniting US-Iran tensions. The escalation effectively reversed prior market expectations of Strait of Hormuz reopening and Middle Eastern aluminum supply normalization. Markets had previously estimated 500,000 to 1,000,000 tonnes of accumulated Middle Eastern aluminum inventory could be released — a key factor that had driven aluminum prices to near four-month lows since mid-June.

Renewed geopolitical uncertainty reintroduced supply disruption risk, prompting a broad rebound across the aluminum sector. Among peers, RUSAL rose 4.65%, Chuangxin Industrial gained 2.77%, and China Hongqiao advanced 2.78%.

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