Changes in Hong Kong stocks | Aluminum stocks had the highest increase, Brazil's important alumina plant stopped gas production, cut production by half, and supply concerns continued to heat up in the aluminum market

The Zhitong Finance App learned that aluminum stocks had the highest gains. As of press release, Innovation Industry (02788) rose 6.35% to HK$19.09; China Aluminum (02600) rose 5.03% to HK$8.98; China's Hongqiao (01378) rose 3.49% to HK$24.86; and Nanshan Aluminum International (02610) rose 1.83% to HK$28.94.

According to the news agency, the Norwegian company Hydro announced that the company's Alunorte plant in Brazil has cut alumina production to 50% of production capacity due to “gas supply” issues. According to public information, the Alunorte plant is designed to have an annual production capacity of 6.3 million tons/year and is known as “the largest alumina plant outside of China”. Alumina is a key raw material in aluminum smelters.

It is worth noting that negotiations between the US and Iran are at an impasse, the prospects for reopening the Strait of Hormuz are slim, and supply concerns in the aluminum market continue to heat up. Norway's Hydro warned last month that if trade in the Strait of Hormuz does not return to normal, the aluminum supply gap this year may exceed the group's expectations of 900,000 tons.