HK Stock Market Move | Aluminum Corporation Of China (02600) drops more than 8%, Goldman Sachs downgrades company rating to "sell" and reduces target price to 7.5 Hong Kong dollars.

Aluminum Corporation Of China (02600) fell more than 8%, dropping 8.33% to HK$9.47 at the time of writing, with a trading volume of HK$1.329 billion. In terms of news, Goldman Sachs released a research report stating that recent industry discussions indicate that under the drive of strong industry profits, the growth rate of aluminum supply in China and outside of China is accelerating. It is estimated that by the end of 2026, China's production capacity will exceed 48 million tons. Therefore, the bank forecasts that the price difference on the Shanghai Futures Exchange will be adjusted from RMB 8,879 per ton in the first half of 2026 to RMB 4,250 per ton in 2027, leading to a 50% decline in Aluminum Corporation Of China's recurring profits in 2027. Goldman Sachs downgraded Aluminum Corporation Of China to "sell" and lowered its 12-month target price to HK$7.5.