Goldman Sachs downgraded Aluminum Corp. of China (ALMMF) to Sell from Buy with a price target of HK$9, up from HK$7.60. The firm adjusted ratings in the China basic metals group as part of its 2026 outlook. The analyst expects Chinese commodity demand to be more stable in 2026. Goldman maintains a positive view on copper and gold, and cautious stance on lithium and paper packaging.
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