Nanshan Aluminium mentions profitability impact in Q1 due 41% drop in alumina price

Nanshan Aluminium International Holdings Limited has released updates based on the unaudited Q1 2026 results of its controlling shareholder, Shandong Nanshan Aluminium Co Ltd.

Nanshan Aluminium, which holds about 56.97 per cent of the company’s issued share capital, disclosed its quarterly performance in line with regulatory requirements. The financials are prepared under the People's Republic of China Generally Accepted Accounting Principles (PRC GAAP), which may differ from Hong Kong Financial Reporting Standards, potentially resulting in variations in future consolidated results.

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The update covered overseas alumina market shifts. Q1 2026 saw alumina prices swing big before plunging on excess global supply, low bauxite costs, and weak early-year demand. They steadied by March as freight and energy bills rose amid geopolitical woes, supply snags, and refinery work. 

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The average overseas alumina price in Q1 stood at around USD 308 per tonne, marking a steep year-on-year decline of about 41 per cent. This drop may affect profitability and valuation for both the parent company and its Hong Kong-listed arm.

The company noted that the disclosed financial data is unaudited and has not been reviewed by auditors, and therefore should be treated with caution. The information reflects broader conditions in the overseas alumina market, which are relevant to the group’s operations.

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Investors have been advised to monitor market developments closely, as continued volatility in alumina prices and geopolitical factors could influence earnings and share performance in the near term.