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<Research>Citi Adjusts Commodity Preference Ranking, Tops Copper; New Top Picks Include CATL, MMG, CMOC, CHALCO, GANFENGLITHIUM
Recommend 38 Positive 34 Negative 31 |
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Citi's bullish call on lithium is working well lately, while its stance on aluminum has not. The broker analyzed the divergence in performance between commodities and equities since the Iran conflict and adjusted its short-term preference ranking. Overall, except for lithium-related stocks, all other mining stocks have underperformed the corresponding commodities as well as US-listed mining peers. This may reflect that the equity market is pricing in the risk of slowing demand in China. Nevertheless, Citi believed mining stocks should eventually catch up with commodity price trends. Citi adjusted its commodity preference ranking to copper > aluminum > lithium > LFP cathode materials > batteries > gold > coal > steel > cement. Give that copper prices are lagging and tensions in the Middle East may de-fuse, the broker raised copper to the top position. Citi's new top picks are: CATL (03750.HK), MMG (01208.HK), CMOC (03993.HK), CHALCO (02600.HK), GANFENGLITHIUM (01772.HK) and HUNAN YUNENG (301358.SZ). Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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