Ge Long Hui·2026-02-04 04:15Core Viewpoint - Morgan Stanley has adjusted its focus stock list for mainland China and Hong Kong, including China Aluminum in its A-share focus list and removing Changjiang Power, indicating a positive outlook for China Aluminum as the largest aluminum producer in the country [1] Group 1: Company Overview - China Aluminum holds a legal aluminum production quota of 8.15 million tons and has announced plans to establish a joint venture with Rio Tinto to acquire nearly 69% of Brazilian aluminum assets [1] - The successful completion of this transaction is expected to boost China Aluminum's green aluminum production and increase its share of overseas market operations [1] Group 2: Market Outlook - Morgan Stanley predicts that aluminum prices will remain high this year due to macroeconomic factors, a weaker dollar, increased domestic capacity in China, and limited growth in overseas supply [1] - The industry fundamentals are tight, and production costs may slightly decrease, leading to strong profit margins for China Aluminum this year [1] Group 3: Investment Rating - Morgan Stanley believes that China Aluminum has the capability to gradually increase dividends over the next few years and has assigned an "Overweight" rating to the stock [1]