Jinshi Data, September 11th news, CITIC Securities research report stated that in the first half of 2024, the profitability of metal companies will improve significantly compared to 2023, but with the sharp rise and fall of major metal prices in the second quarter of 2024, the metal sector will experience an obvious pullback. In terms of segmented areas, copper and aluminum continue to perform well. Against the background of increasing corporate profitability, industry valuations have further declined, especially in the aluminum, copper and lithium regions where valuations are prominent. In addition, the level of industry dividends will also increase significantly in the first half of 2024. Looking forward to the future, it is recommended to continue to value the configuration of gold under the interest rate reduction transaction, and industrial metals are expected to benefit from the moderate pump in prices brought by the warming demand. The bottom characteristics of lithium and rare earth regions are significant, and they may have relative advantages during the market style switch period. It is also recommended to follow the material targets related to consumer electronics.
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CITIC Securities: Still bullish on the configuration value of gold under interest rate cut transactions
Jinshi Data, September 11th news, CITIC Securities research report stated that in the first half of 2024, the profitability of metal companies will improve significantly compared to 2023, but with the sharp rise and fall of major metal prices in the second quarter of 2024, the metal sector will experience an obvious pullback. In terms of segmented areas, copper and aluminum continue to perform well. Against the background of increasing corporate profitability, industry valuations have further declined, especially in the aluminum, copper and lithium regions where valuations are prominent. In addition, the level of industry dividends will also increase significantly in the first half of 2024. Looking forward to the future, it is recommended to continue to value the configuration of gold under the interest rate reduction transaction, and industrial metals are expected to benefit from the moderate pump in prices brought by the warming demand. The bottom characteristics of lithium and rare earth regions are significant, and they may have relative advantages during the market style switch period. It is also recommended to follow the material targets related to consumer electronics.