CMOC rose 3.61%, only Morgan Stanley dropped rating to under perform

(China Aluminum Network)CMOC rose 3.61% to 7.75 Yuan (Hong Kong dollar, the same below), turnover of 472 million Yuan; Hang Seng Index rose 1.18% over the same period to 24,429.41 points. Morgan Stanley upgraded the stock and closed down reduction of the market simultaneously; target price of 5.5 Yuan unchanged.

Morgan Stanley pointed out that since October 29th, Ministry of Land and Resources announced that it would list aluminum as protective mining mineral; CMOC shares rose 36% cumulatively, while London spot price virtually unchanged. The impact of China's aluminum market is less than rare earth, only accounting for 1/3 of total production. Moreover, China has restricted aluminum exports for a long time and imposed 15% export duty, so even though China further limit exports or add duty, the impact to aluminum price is also slight.

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