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<Research>HSBC Research Ratings, TPs on Raw Material Stocks (Table)
Recommend
46
Positive
89
Negative
29
Stock | Rating | TP (HK$)

Diversified
CMOC(03993.HK) | Hold | 7.6

Related NewsUBS Foresees H Shrs to Hail New Reflation Cycle, Sets End-2026 Target of MSCI HK Index at 12,300
Aluminium
CHINAHONGQIAO(01378.HK) | Buy | 37.4
CHALCO(02600.HK) | Buy | 12.3

Copper
JIANGXI COPPER(00358.HK) | Hold | 13
MMG(01208.HK) | Hold | 3.2
ZIJIN MINING(02899.HK) | Buy | 43
CHINFMINING(01258.HK) | Hold | 14.1

Lithium
GANFENGLITHIUM(01772.HK) | Buy | 54
TIANQI LITHIUM(09696.HK) | Hold | 49

Related NewsUBS Ratings, TPs on Preferred Shrs in Mainland CN/ HK (Table)
Steel
ANGANG STEEL(00347.HK) | Hold | 2.1
MAANSHAN IRON(00323.HK) | Hold | 2.7

Cement
ASIA CEMENT CH(00743.HK) | Hold | 2.4
CONCH CEMENT(00914.HK) | Buy | 28.7
CR BLDG MAT TEC(01313.HK) | Buy | 2.5

Glass
XINYI GLASS(00868.HK) | Hold | 7.7
FUYAO GLASS(03606.HK) | Buy | 91.2

Related NewsJPM Names ZIJIN MINING as Top Pick, Expects Copper & Related Stocks to Continue Outperforming Next Yr
Paper
LEE & MAN PAPER (02314.HK) | Hold | 2.4
ND PAPER(02689.HK) | Buy | 7.8

Precious metal
ZHAOJIN MINING(01818.HK) | Buy | 37.1
SD GOLD(01787.HK) | Buy | 47
ZIJIN GOLD INTL(02259.HK) | Buy | 178
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