HK Stock Market Move | Aluminum stocks see significant gains as Brazil's important alumina plant halts production, cutting output by half. Concerns over aluminum market supply continue to escalate.

Aluminum stocks are among the top gainers. As of the time of writing, CHUANGXIN IND (02788) is up 6.35%, priced at HKD 19.09; Aluminum Corporation Of China (02600) is up 5.03%, priced at HKD 8.98; CHINAHONGQIAO (01378) is up 3.49%, priced at HKD 24.86; NANSHAN AL INTL (02610) is up 1.83%, priced at HKD 28.94. On the news front, according to Caixin, Norway's Hydro company announced that its Alunorte plant in Brazil has reduced its alumina output to 50% of capacity due to natural gas supply issues. Public data shows that the Alunorte plant has a designed annual capacity of 6.3 million tons and is known as "the largest alumina plant outside China." Alumina is a key raw material for aluminum smelting. It is noteworthy that U.S.-Iran negotiations have hit a stalemate, and the outlook for the reopening of the Strait of Hormuz remains bleak, intensifying supply concerns in the aluminum market. Last month, Norway's Hydro warned that if trade through the Strait of Hormuz does not return to normal, this year's aluminum supply shortage could exceed the group's forecast of 900,000 tons.