HK Stock Market Move | Aluminum stocks collectively rose, Guinea plans to restrict bauxite exports, and aluminum oxide futures surged significantly.

The aluminum industry stocks collectively rose. As of the time of writing, NANSHAN AL INTL (02610) rose by 13.34% to 37.04 Hong Kong dollars; Aluminum Corporation Of China (02600) rose by 5.89% to 11.51 Hong Kong dollars; CHINAHONGQIAO (01378) rose by 1.62% to 30.1 Hong Kong dollars. In terms of news, Guinea plans to officially introduce export control and reform measures for bauxite in June. The core purpose is to control the total export quantity to restrain the decline in ore prices and promote their recovery. Guinea's Minister of Mines and Geology, Buena Sira, recently emphasized that the government's principle is "supply must not exceed demand", hoping to bring prices back to a reasonable level by regulating export quantities. Public information shows that Guinea accounts for over one-third of global bauxite production. On May 26th, influenced by the news of Guinea's plan to restrict bauxite exports, aluminum oxide futures rose sharply. Dongwu Futures stated that currently, aluminum oxide valuation is at a low point, and the news has a significant impact on market sentiment. With considerable profits from aluminum smelting and minimal pressure on the demand side for aluminum oxide, there is certain rebound potential for aluminum oxide. However, under the pressure of oversupply, the upward momentum is insufficient. It is necessary to pay attention to the subsequent control intensity of Guinea's export.