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ACH - Chalco: Government Intervention Captures Market's Attention
Aluminum Corporation of China Limited American Depositary Shares
Chalco's stock price has corrected by -21% from its three-year share price peak recorded in May 2021, as fears of government intervention in commodity markets were confirmed this week.
On the flip side, Chalco is a beneficiary of policy tailwinds, with China introducing environmental-friendly policies which could limit aluminum supply growth in the medium term.
Chalco currently trades at 1.07 times P/B and 16.9 times consensus forward FY 2021 normalized P/E.