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BoA Securities: Raises China Hongqiao Target Price to 11.5 HK Dollars on Optimistic Aluminum Price Outlook

Published: Apr 18, 2024 10:41
【BoA Securities: Optimistic about aluminum prices, China Hongqiao target price raised to 11.5 Hong Kong dollars】BoA Securities released a research report stating that entering the second quarter, the global commodities team updated their metal price forecasts. Macroeconomic trends and energy transitions will drive metal prices, with a positive outlook on copper and gold. It is expected that by 2025, copper prices will exceed 10,000 US dollars per ton, and gold prices will exceed 2,500 US dollars per ounce. The bank is optimistic about aluminum prices, projecting a 2% growth in Chinese aluminum demand by 2024. However, a neutral view is held on lithium, and a cautious stance is taken on steel.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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【BoA Securities: Optimistic about aluminum prices, China Hongqiao targ - Shanghai Metals Market (SMM)