CITIC Trust Buys into China Hongqiao on Optimism over Aluminum Industry

Published: Aug 29, 2017 10:52

Save

Recently, CITIC Trust spent $700 million in subscribing to 10% of allotted shares issued by China Hongqiao.

SHANGHAI, Aug. 29 (SMM) – Recently, CITIC Trust spent $700 million in subscribing to 10% of allotted shares issued by China Hongqiao.

Aluminum Price Rise Cycle Just Begins

The move by CITIC Trust, which is based on thorough due diligence and prudent decision, will help reduce Hongqiao’s financing costs in the long run, Huang Pingyi, Deputy General Manager of China Hongqiao, said in an interview.

China Aluminum Inventories Grow further, SMM Says

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

CITIC Trust China Hongqiao

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

Macro and Geopolitical Factors Resonated During Labour Day Holiday, LME Outperforms SHFE for Aluminum [SMM Analysis]

In the short term, the core pattern of LME outperforms SHFE is unlikely to reverse. Strength in the overseas market will support SHFE aluminum's post-holiday catch-up potential, but high domestic inventory and weak demand will cap overall gains. Going forward, key focus will be on the pace of China aluminum ingot destocking and the strength of rigid demand release from downstream production resumptions.

4 hours ago

15 hours ago

[SMM Aluminum Flash News] DISA Launches C5 Moulding Line to Boost Casting Efficiency

DISA has launched the DISAMATIC C5 vertical green-sand moulding line, designed for high efficiency and low operating cost. The system can produce 400 uncored or 340 cored moulds per hour, delivering up to 20% higher output than comparable machines while reducing maintenance needs and total cost of ownership. The company said the C5 improves casting quality, cutting grinding and rework by about 50%, and offers fast installation with compatibility for existing pattern plates. Overall, the new line enhances productivity and supports faster return on investment for foundries.

15 hours ago

[SMM Aluminum Flash News] South Korea Boosts SME R&D to Cut Carbon Exposure Under CBAM Pressure

South Korea’s Ministry of SMEs and Startups, together with TIPA, has launched the “2026 Carbon Reduction R&D for Core Export Items” project, focusing on developing carbon reduction technologies for high-emission products such as aluminium and steel to address CBAM-related cost pressures. The project, open for applications in May, covers fuel substitution, process optimisation and resource recycling, with support for real-world implementation and verification. Running until 2030 with a total budget of about USD 73 million, the initiative aims to enhance SMEs’ export competitiveness under tightening global carbon regulations.

15 hours ago