港股异动 | 中国宏桥(01378)涨超6%创新高 LME铝站上3000美元

智通财经
Jan 06

智通财经APP获悉,中国宏桥(01378)涨超6%,高见35.56港元创上市新高。截至发稿,涨6.86%,报35.5港元,成交额8.11亿港元。

消息面上,新年伊始伦铝突破3000美元大关,创下2022年以来的最高记录;沪铝主力合约也突破2.4万元/吨关口。中信建投证券指出,莫桑比克Mozal铝厂将于2026年3月15日转入无限期停产的消息再度令市场担心电解铝供应的稳定性。该行认为,随着海外主要经济体PMI的回暖推升用铝需求,预计2026年全球电解铝需求增加150~187万吨,即2%~2.5%。供需处于紧平衡状态,且建立在供应受电力威胁的基础之上,电解铝价格易涨难跌,利润在高位继续扩张。

华创证券研报指出,四季度以来受全球供给因电力问题收紧及储能需求爆发预期持续,预计未来2年全球铝供需紧平衡,当前看LME+国内铝库存总计维持120-130万吨左右,安全库存将持续维持低位,对铝价形成向上支撑。此外考虑当前美国铝高升水接近70%,若缺电逻辑演化造成美减产,铝上涨弹性或更强,铝成本下行电解铝利润有望维持高位,看好铝红利+弹性。而中国宏桥电解铝产能位于全球前列,且高分红+回购持续推进,红利资产属性逐步凸显,有望核心受益。

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