| 1 | Shandong Hongqiao Aluminum Industry Holding Company Limited (002379.SZ) | 9/9 | 11.2x |
| 2 | China Hongqiao Group Limited (CHHONGQ19.BK) | 9/10 | 0.7x |
| 3 | Yunnan Aluminium Co., Ltd. (000807.SZ) | 9/10 | 11.5x |
| 4 | National Aluminium Company Limited (NATIONALUM.NS) | 8/10 | 15.1x |
| 5 | Grupa Kety S.A. (KTY.WA) | 8/10 | 17.4x |
| 6 | Aluminum Corporation of China Limited (601600.SS) | 8/10 | 6.2x |
| 7 | Al Taiseer Group TALCO Industrial Company (4143.SR) | 8/10 | 8.4x |
| 8 | China Hongqiao Group Limited (1378.HK) | 8/10 | 6.2x |
| 9 | Tianshan Aluminum Group Co.,Ltd (002532.SZ) | 8/10 | 8.5x |
| 10 | JiaoZuo WanFang Aluminum Manufacturing Co., Ltd (000612.SZ) | 8/10 | 13.9x |
| 11 | Shanghai Huafon Aluminium Corporation (601702.SS) | 7/10 | n.d. |
| 12 | Ningbo Fubang Jingye Group Co.,Ltd (600768.SS) | 7/10 | n.d. |
| 13 | Optics Technology Holding Co.,Ltd (300489.SZ) | 7/10 | n.d. |
| 14 | Chuangxin Industries Holdings Limited (2788.HK) | 7/10 | 14.9x |
| 15 | Aluminum Corporation of China Limited (2600.HK) | 7/10 | 4.5x |
| 16 | VBX Limited (VBX.AX) | 6/10 | n.d. |
| 17 | Vedanta Aluminium Metal Limited (VAML.NS) | 6/10 | n.d. |
| 18 | MMP Industries Limited (MMP.NS) | 6/10 | n.d. |
| 19 | Manaksia Aluminium Company Limited (MANAKALUCO.NS) | 6/10 | 10.7x |
| 20 | Hindalco Industries Limited (HINDALCO.NS) | 6/10 | n.d. |
| 21 | Constellium SE (CSTM) | 6/10 | 27.1x |
| 22 | CMR Green Technologies Limited (CMRGREEN.NS) | 6/10 | n.d. |
| 23 | Century Extrusions Limited (CENTEXT.NS) | 6/10 | n.d. |
| 24 | Capral Limited (CAA.AX) | 6/10 | 6.0x |
| 25 | Installux S.A. (ALLUX.PA) | 6/10 | 13.0x |
| 26 | Advanced Engineered Materials Ltd (AEM.AX) | 6/10 | n.d. |
| 27 | Shenzhen SunXing Light Alloys Materials Co.,Ltd. (603978.SS) | 6/10 | n.d. |
| 28 | Yong Jie New Material Co.,Ltd. (603271.SS) | 6/10 | 20.7x |
| 29 | Shandong Nanshan Aluminium Co.,Ltd. (600219.SS) | 6/10 | 15.3x |
| 30 | Lizhong Sitong Light Alloys Group Co., Ltd. (300428.SZ) | 6/10 | n.d. |
| 31 | Nanshan Aluminium International Holdings Limited (2610.HK) | 6/10 | n.d. |
| 32 | Henan Shenhuo Coal Industry and Electricity Power Co. Ltd (000933.SZ) | 6/10 | 7.4x |
| 33 | Dynafond Société Anonyme (MLDYN.PA) | 5/9 | n.d. |
| 34 | Norsk Hydro ASA (NHY.OL) | 5/10 | 11.3x |
| 35 | Ascent Bridge Limited (AWG.SI) | 5/10 | n.d. |
| 36 | AMAG Austria Metall AG (AMAG.VI) | 5/10 | 8.7x |
| 37 | Alucon Public Company Limited (ALUCON.BK) | 5/10 | 34.2x |
| 38 | ABx Group Limited (ABX.AX) | 5/10 | n.d. |
| 39 | Alpha HPA Limited (A4N.AX) | 5/10 | n.d. |
| 40 | Jiangsu Dingsheng New Materials Joint-Stock Co.,Ltd (603876.SS) | 5/10 | 20.6x |
| 41 | Henan Mingtai Al.Industrial Co.,Ltd. (601677.SS) | 5/10 | 29.4x |
| 42 | Daiki Aluminium Industry Co., Ltd. (5702.T) | 5/10 | n.d. |
| 43 | Yinbang Clad Material Co.,Ltd (300337.SZ) | 5/10 | n.d. |
| 44 | United Company RUSAL, International Public Joint-Stock Company (0486.HK) | 5/10 | n.d. |
| 45 | Anhui Xinbo Aluminum Co., Ltd. (003038.SZ) | 5/10 | n.d. |
| 46 | Guangdong Haomei New Materials Co.,Ltd (002988.SZ) | 5/10 | 40.5x |
| 47 | Guangdong Hoshion Industrial Aluminium Co., Ltd. (002824.SZ) | 5/10 | n.d. |
| 48 | ZYF Lopsking Material Technology Co., Ltd. (002333.SZ) | 5/10 | n.d. |
| 49 | Jiangsu Alcha Aluminium Group Co., Ltd. (002160.SZ) | 5/10 | n.d. |
| 50 | PT Alakasa Industrindo Tbk (ALKA.JK) | 4/9 | n.d. |
| 51 | Century Aluminum Co (CENX) | 4/10 | 185.7x |
| 52 | Arfin India Limited (ARFIN.NS) | 4/10 | 200.1x |
| 53 | Alumil Aluminium Industry S.A. (ALMY.AT) | 4/10 | 31.8x |
| 54 | PT Alumindo Light Metal Industry Tbk (ALMI.JK) | 4/10 | n.d. |
| 55 | Alcoa Corp (AA) | 4/10 | 35.9x |
| 56 | Xinjiang Joinworld Co., Ltd. (600888.SS) | 4/10 | n.d. |
| 57 | Henan Zhongfu Industrial Co.,Ltd (600595.SS) | 4/10 | 37.1x |
| 58 | Innovation New Material Technology Co., Ltd. (600361.SS) | 4/10 | n.d. |
| 59 | UACJ Corporation (5741.T) | 4/10 | 60.3x |
| 60 | Tianjin Ruixin Technology Co.,Ltd (300828.SZ) | 4/10 | 97.3x |