Citibank: Chalco may benefit from China's carbon neutrality pledge
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Update time : 2021-04-22 19:39:16
According to Citibank, Aluminum Corporation of China Limited (Chalco) might benefit a lot from China’s pledge to achieve carbon neutrality by 2060 by controlling Chinese aluminum production capacity as aluminum is one of the most carbon-intensive metals.
Citibank expected that China's domestic aluminum demand will remain high, which meant that Chalco can keep its profit margins and aluminum prices at high levels.
Chalco's profit forecast for 2021-2022 was raised by 23-34% by Citibank.
Egypt Aluminum sees a double-digit hike in net profit during the nine-month period of FY2024
