(Bloomberg) -- China Hongqiao Group Ltd. is confident domestic policies will boost aluminum demand, shielding the nation’s biggest private producer of the metal from geopolitical headwinds such as trade barriers.

Most Read from Bloomberg

Trump DEI Purge Hits Affordable Housing Groups Electric Construction Equipment Promises a Quiet Revolution NYC Congestion Pricing Toll Gains Support Among City Residents How Britain’s Most Bike-Friendly New Town Got Built Open Philanthropy Launches $120 Million Fund To Support YIMBY Reforms

The global economy still faces many uncertainties with trade restrictions and geopolitical risks, but China’s continued policy support is expected to “provide continuous resilience and inject strong momentum for the industry development,” Chairman Zhang Bo said in an exchange filing.

“As market expectations for interest rate cuts gradually grow, confidence in the global capital market is steadily recovering, bringing more opportunities to improve the supply and demand pattern in domestic and foreign markets,” he added.

The company’s net income jumped 95% to 22.4 billion yuan ($3.1 billion) in 2024 as prices of aluminum alloy and alumina products soared. That beat the 19.9 billion-yuan average analyst estimate. Revenue for alumina, a key raw material, grew to 37.4 billion yuan from 26.6 billion yuan a year earlier.

Zhang said in an interview last week that the firm is looking to boost sales in alternative markets including the Middle East and Southeast Asia to offset tariffs. Aluminum and steel were targeted by US President Donald Trump with a blanket 25% in import duties on metals, which took effect earlier this week. China has urged the US to cancel its tariffs.

--With assistance from Jessica Zhou.

Most Read from Bloomberg Businessweek

How America Got Hooked on H Mart How Trump’s ‘No Tax on Tips’ Could Backfire for the Working Class Nvidia Looks Past DeepSeek and Tariffs for AI’s Next Chapter How Natural Gas Became America’s Most Important Export Disney’s Parks Chief Sees Fortnite as Key to Its Future

©2025 Bloomberg L.P.

View Comments