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<Research>Citi Prefers Aluminum in Materials Industry; Top Picks CHINAHONGQIAO, CHALCO
Recommend 22 Positive 41 Negative 15 |
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China's total aluminum production from November 27 to December 3 was 856,000 metric tons, flat WoW but up 3% YoY, Citi wrote in its research report, citing industry data. Specifically, the production of aluminum billet was 362,000 metric tons, also flat WoW but up 7% YoY. Regarding inventory, the total inventory of aluminum billet and aluminum ingot dropped by 1% WoW but rose by 3% YoY to 878,000 metric tons as of December 4. In the materials industry, Citi prefers aluminum > copper > batteries > gold > battery materials > coal > cement > steel. In terms of stocks, its top picks are CHINAHONGQIAO (01378.HK), CHALCO (02600.HK) (601600.SH), ZIJIN MINING (02899.HK) (601899.SH), and CONTEMPORARY AMPEREX (300750.SZ), with target prices at HKD36, HKD12.41/ RMB14.77, HKD39/ RMB35.5, and RMB571. AAStocks Financial News |
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