The world's largest bauxite producer plans to tighten exports! Hongqiao Holdings responds: the company has priority supply rights for bauxite in Guinea

The concept of non-ferrous aluminum stocks in the A-share market strengthened across the board in the afternoon. As of 13:22, the market value giant China Aluminum Industry has hit the limit up, with stocks such as Nanshan Aluminum, Hongqiao Holdings, Yun Aluminum, and Tianshan Aluminum following suit. On the news front, the Minister of Mines in Guinea has confirmed that the country will introduce a plan to control the export of bauxite in June, with the core demand being to "control export volume and boost prices". As the world's largest producer of bauxite, Guinea's bauxite production accounts for more than one-third of global production. Data shows that by 2025, the country's bauxite export volume will increase by 25% to 183 million tons, with the majority of it going to China. In response to the impact of this policy, a reporter called Hongqiao Holdings as an investor, and the staff member who answered the call stated that the company's bauxite procurement sources are mainly concentrated in Australia and Guinea. However, the company's controlling shareholder holds equity in local mines in Guinea, giving the company priority access to Guinea's bauxite supply. Even if raw material prices rise in the future, the company's risk resistance is better than that of most companies in the industry.