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    2600   CNE1000001T8

ALUMINUM CORPORATION OF CHINA LIMITED

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Chalco's Shares Rise Amid Aluminum Supply Concerns

09/06/2021 | 05:41am EDT

By Yongchang Chin

Aluminum Corp. of China Ltd.'s shares jumped Monday, partly on concerns that a coup in Guinea threatens the global supply of bauxite, an element crucial for the making of aluminum.

Shares of state-owned Chalco, one of the world's largest aluminum producers, closed 5.5% higher, extending a monthslong rally stemming from rising demand in China and higher global aluminum prices.

The company's shares have more than doubled in 2021 on expectations of higher profit after China became a net importer of aluminum in 2020.

Chalco should benefit from robust demand for base metals, S&P Global Ratings said. It expects the company to sell 3.8 million-4.0 million metric tons of primary aluminum a year in 2021-2022, compared with 3.7 million tons in 2020.

High aluminum prices should also support a higher Ebitda margin of 10%-11% in 2021-2022, compared with 8.1% in 2020, S&P Global Ratings said.

The benchmark aluminum contract on the London Metal Exchange rose 1.1% to $2,757.0 a ton, its highest level since April 2011, after soldiers in Guinea said they had suspended the constitution and detained the country's president. Guinea is the world's largest exporter of bauxite, according to brokerage Marex.

Goldman Sachs expects prices to rise further on likely worsening global supply of the metal. The investment bank has a 12-month price target of $3,200 a ton.

Write to Yongchang Chin at yongchang.chin@wsj.com

(END) Dow Jones Newswires

09-06-21 0540ET

Stocks mentioned in the article
ChangeLast1st jan.
ALUMINUM CORPORATION OF CHINA LIMITED 2.26% 5.42 End-of-day quote.97.81%
DJ INDUSTRIAL 1.09% 35294.76 Delayed Quote.14.07%
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Financials
Sales 2021 225 B 34 924 M 34 924 M
Net income 2021 7 271 M 1 129 M 1 129 M
Net Debt 2021 69 675 M 10 823 M 10 823 M
P/E ratio 2021 11,2x
Yield 2021 -
Capitalization 94 309 M 14 654 M 14 649 M
EV / Sales 2021 0,73x
EV / Sales 2022 0,64x
Nbr of Employees 63 007
Free-Float 60,4%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 4,48 CNY
Average target price 6,30 CNY
Spread / Average Target 40,5%
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Managers and Directors
Run Zhou Zhu President & Executive Director
Jun Wang Chief Financial Officer & Secretary
Guo Hua Ye Chairman-Supervisory Board
Guan Zhou Qiu Independent Non-Executive Director
Jin Song Yu Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
ALUMINUM CORPORATION OF CHINA LIMITED97.81%14 654
NORSK HYDRO ASA75.61%17 064
HINDALCO INDUSTRIES LIMITED114.55%15 308
ALCOA CORPORATION142.95%10 475
EN+ GROUP INTERNATIONAL25.00%6 530
ALUMINA LIMITED23.71%4 887