TTNEWS
  • entertainment
  • Sport
  • Finance
  • tec
  • Travel
  • military
  • Parenting
  • fashion
  • game
  • history
  1. home
  2. finance

CITIC Securities: The recovery of energy and materials and goods is recovery.

2024-11-11 18:28:52

Zhitong Finance APP was informed that CITIC Securities has released a research report that since 2024, the market has increased the popularity of the market in the background of supply constraints and inflation, and the overall performance of the upstream resource sector is relatively strong.Looking forward to 2025, it is expected that domestic demand will recover under the guidance of strong policy, and aluminum sections with domestic demand -related varieties will continue to be strong. Steel and coal will have profit re -distribution and mild price recovery expectations, and refrigerant and other chemical products are expected to benefit.Commodity supply side logic will continue. It is recommended to pay attention to varieties such as crude oil, natural gas, copper, lithium, and tin with long -term supply constraints or short -term disturbances.In addition, in the context of frequent geopolitics, it is recommended to pay attention to the rare earth permanent magnets and beneficiary interest rate reduction cycles and precious metal sectors with strategic attributes.

The main point of CITIC Securities is as follows:

Market review: The commodity market has experienced shocks and differentiation since 2024.

Since 2024, the market has increased the popularity of the market in the background of supply constraints and the background of inflation, and the overall performance of the upstream resource sector has performed strongly.At the same time, affected by factors such as the "temperature difference" of the domestic economy and the disturbance of overseas raw materials, the cyclical segment sector presents the characteristics of differentiation. Global pricing varieties such as gold, copper, and crude oil have risen significantly or show high toughness.The prices of varieties such as threads and coking coal are weak.

Demand recovery expectations are optimistic about the price elasticity of strong domestic demand -related varieties.

The domestic policy continues to increase, and the economic promotion is stable. The bank believes that the policy effect will gradually appear.At the same time, some varieties such as aluminum and refrigerant have strong supply constraints. The supply constraints such as steel and coal have been further strengthened. The bank is optimistic about price elasticity. It is expected that the aluminum price operating range in 2025 is 20,000 ~ 23,000 yuan/ton, and the price center of the hot roll is 4,000 yuan./Ton, the price center of the 5500 calories of Qingang 5500 calories is 890 yuan/ton, and the price of three generations of refrigerant is expected to reach 55,000 yuan/ton.

The bank recommends that the relevant varieties of domestic demand -related varieties of aluminum, coal, steel, and refrigerant plates are recommended.

Supply constraints or local disturbances, pay attention to crude oil, natural gas, copper, lithium, tin, etc.

Supply disturbance is the leading logic of investment in the resource sector in 2024. Under the long -term supply constraint effect, the banks expected price of copper, tin and other varieties will continue the high operating trend, and the phased supply shortage will be shortage.Or disturbances exacerbate products such as crude oil, and some long -term downturn varieties or narrowing due to the narrowing of supply looseness will usher in a rebound.The bank is expected to be $ 60 ~ 70 per barrel in 2025, the price range of TTF natural gas in Dutch TTF is 20 ~ 45 euros/MWh, the copper price range is 9000-11,000 US dollars/ton, and the tin price operating range is 3.5~ 40,000 US dollars/ton, lithium prices are expected to rebound to 100,000 yuan/ton.

The bank recommends paying attention to crude oil, natural gas, copper, lithium, tin and other sectors.

Frequent geopolitical disturbances, focusing on rare earth permanent magnets, precious metals and other varieties.

Frequent geopolitical risks disturbing. my country has increased attention to the variety of strategic attributes and anti -counterable capabilities. Rare earth is the heavy weapon of the country. Under supply constraints and geographical risks, the bank is expected to be 2025 2025. 2025 is expected to be 2025. The price of annual oxidation is expected to rise to 45,000 to 550,000 yuan/ton.In terms of precious metals, the bank is expected to re -dominate the investment of the golden sector. The hedging emotions caused by geopolitical conflicts are also conducive to the allocation of gold.In terms of silver, in addition to the logic of gold and silver comparison prices, the expansion of the supply and demand gap is also expected to drive the price of silver.The bank is expected to have a golden price operating range of US $ 2400-3,000/ounce in 2025, and the price of silver price is $ 30 to $ 40/ounce.

The bank recommends that the rare earth permanent magnet and precious metal sectors are recommended.

Risk factor: The risk of a sharp decline in commodity prices; the recovery of demand at home and abroad is less than expected;The progress of new capacity construction is less than expected; the severe risk of safety supervision and environmental protection situation exceeds expected.

This article comes from: Zhitong Finance Network

Popular information
  • Notice!In the last 2 days, the loss will be about 40% without operation | 2024-11-14 11:33:36
  • Many banks announced!Relding! | 2024-11-14 11:34:48
  • Wuliangye "bombarded" again: "Ten billion subsidies" have fake wine! | 2024-11-14 11:37:58
  • Why is it worth worried about the new 52 -week high apple? | 2024-11-14 11:50:53
  • How can investors respond to the challenges brought by Trump on stage? | 2024-11-14 11:50:57
  • Donghua Software-9.95%falls, with a total market value of 26.413 billion yuan | 2024-11-14 11:51:00
  • Strictly check individual households!Just notified!From now on, the taxation method of individual households has changed! | 2024-11-14 11:56:28
  • Breakfast of Finance on November 14: The US CPI has not changed the Federal interest rate reduction betting, and investment banks have seen oil drops | 2024-11-14 11:56:57
  • Late at night, the United States released heavy data!Trump nominated the candidate for the Secretary of State | 2024-11-14 12:16:14
  • A shares will welcome the annual level, two main lines may ambush in advance | 2024-11-14 12:22:42
  • Face!Technology weakened semiconductor decline!Should I withdraw it? | 2024-11-14 12:22:51
  • Zijin Mining was plundered by 3.2 tons of gold by drug trafficking groups, worth about 200 million US dollars | 2024-11-14 12:23:49
  • The property market is really warming up, I heard that the Ou Shen housing group earns 6 million commissions | 2024-11-14 12:33:53
  • The concept stocks of the three major index are low -opening precious metal concept stocks fell | 2024-11-14 12:36:24
  • The "CSI A500 Index": The quantitative giants have the layout, and the small and medium -sized public offer join the war situation | 2024-11-14 12:36:33
  • A -share: Doing a good psychological expectation, the market movement is obvious, and the market will change at any time | 2024-11-14 12:40:53
  • Noon review | wrong!A -share solution to this problem can rise! | 2024-11-14 12:45:41
  • 11.7 billion equity transactions are completed!Changdian Technology Easy Lord: Chairman and two directors resign! | 2024-11-14 12:45:47
  • Zhang Chunlin: The strenuous shock, the main force is washing or shipping? | 2024-11-14 12:47:37
  • Regarding 2024, Lei Jun blows two cows, one is realized, one cannot be achieved | 2024-11-14 12:47:52
  • Tonight, witness history ... | 2024-11-14 12:49:39
  • The Great Wall of China: Focus on the independent intellectual industry, and make every effort to promote the breakthrough of key core technologies | 2024-11-14 12:49:42
  • Hunan Silver received financing of RMB 43 million, and bought a total of 152 million yuan in the past three days | 2024-11-14 12:49:46
  • The stock price of the market fell by 6.43%in the afternoon of US $ 13.37 in the US real estate investment | 2024-11-14 13:12:07
  • Shenzhen Chuanyin Communications under Chuanyin was awarded the title of new "Little Giant" enterprise in the national specialized specialty | 2024-11-14 13:12:13
  • CITIC Securities A shares increased by 60% of Yuexiu Capital to reduce holdings by 1% or cash out 5 billion yuan | 2024-11-14 13:16:11
  • The performance benchmark covers the global stock market and gold, and the world is actively configured with FOF to open the closed period | 2024-11-14 13:16:15
  • The transformation of Jinji Co., Ltd. suffered a decline of 922 million large orders to terminate the operating pressure of 8.82 million yuan in the first three quarters. | 2024-11-14 13:19:26
  • It is said that the Chery FR Division was established, and the headquarters is located in Shanghai | 2024-11-14 13:21:24
  • Guangzhou house tickets can buy new houses in the city!Expert: It is necessary to make the demolished households realized that in the past | 2024-11-14 13:21:28
Latest
Happy Bao | Dream of Dream Medicine Bloom -Graduate Students from our hospital won the second prize of the Capital Medical University 2024 Speech Contest Personal evaluation of the 30 -year history of the best lineup of Ma Lai can barely enter the bench The domestic "three major airlines" C919 aircraft gathered in Chengdu!Practicing flying and going north Shangguang Parents do this to break the "only performance theory", and each child can bloom unique light She, sent a letterless letter to the moon Old cup bonus super lpl champion!Attract the old We Korean aid: I want to support the championship, I want to raise children In 2025, the statutory holidays have been added for 2 days. What is the true attitude of tourism practitioners? What does the PPT look like by Lin updated?After reading it, I was cried by ugliness Beiqing: After the National Football Team Barin will return to Xiamen for the afternoon of the 15th, the 15th day of the 15th National Football Team VS Balling 23 people List exposure: Xie Wen can suspend the race!Fourth goalkeeper+flying wing failure selection The best element of the Super League announced, Wei Shihao missed, 4 people in Shanghai, Luneng 2, Wu Xi was surprised Ding Yongxun fell in love with Zhao Xuehua at first sight and loved each other for 37 years. Now the 36 -year -old son makes him worry Ye Ke has not seen Huang Xiaoming in the checkup. Paparas have been exposed to 5 months of pregnancy. The 24 -year -old Fan Ye compared the 28 -year -old Shi Yunpeng. Aspen: Mbappe has been silent after joining Real Madrid for 4 months. Only 2 interviews have been accepted in 4 months Chen Meng withdrew!Instead, Sun Yingsha was forced to have both and gave birth to 2 questions. What did Ma Lin think? It is the lowest -key county in Shanxi, with world -class famous mountains, but few people know the county name! Ye Ke promised to return the net to cancel the account again as a demon again!Huang Xiaoming is lazy, Ye Ke is alone for pregnancy! Big!Blast Yang Zi accompanied by sleeping: evidence has been obtained, involved in many popular actresses, more synthetic streams out "The Lane Family" Zhuang rushed to drive away his parents and forced Pengfei to buy a house. Only then did you know that Zhuang Chaoying was very lucky Wang Xiaofei hit Big S: A wedding with Ma Xiaomei will be re -wedd, Ma Xiaomei threw out propositions Who is the most runner -up in the World Cup?The Dutch Three Entry Finals are defeated, Argentina is tied, and the other team is the most The Clippers regretted, Harden 19+6+7, after the game, Harden walked towards the Rockets bench, hugged Ethan to pay attention to Rockets 111-103 Clippers!Player scores are released: 4 people are full, 3 people pass, 2 people pull their hips! No accident, this will become the main framework of Amurin Manchester United! Choose a rational student in kindergarten?Can "Run Run" Education really win on the starting line? British PS5 Pro price or permanent drop: the largest retail sales leading price reduction The 19 -day box office broke through 3.3 billion and won the global championship. The strongest movie this year was born. Daolang: The Macau concert is well received, and I won the two former CCTV host of Zhao Pu Li Xiaomeng. 2024 Inner Entertainment is to be exploded, only one year, the gap is obvious Lei Jun is jealous. Xiaomi SU7 has 100,000 offline and 100,000 orders. Guangzhou house tickets can buy new houses in the city!Expert: It is necessary to make the demolished households realized that in the past It is said that the Chery FR Division was established, and the headquarters is located in Shanghai Win 20 points!Du Feng won the first victory, and the new aid 23 points hit a new high. The chef should describe the job from the teachers and students and parents, and the supplier will not run away. Thirty points defeated, the CBA Journey really walked over?The three major foreign aids in Zhejiang broke out, and genius teenagers burst and burst The transformation of Jinji Co., Ltd. suffered a decline of 922 million large orders to terminate the operating pressure of 8.82 million yuan in the first three quarters. 4 games 0 goals!The number of shooters is lost, Alda is deeply trapped in the mud, and the situation of winning the championship deteriorates Crown: 0 to 4!The fatigue is shown. In the first round, Trump took Ding Junhui lightly Korean dramas have evolved to the male lead, no male lead is required The performance benchmark covers the global stock market and gold, and the world is actively configured with FOF to open the closed period CITIC Securities A shares increased by 60% of Yuexiu Capital to reduce holdings by 1% or cash out 5 billion yuan Academician Qian Qihu: The domestic shield is going to the world. I hope that the younger generation of "Chinese tunnelers" will create further glory The whole Chinese class rushes for another year!BLG is highly likely to renew the contract, ELK renewal conditions are only one The husband takes the child to buy milk powder to bring it back to the PS5 Pro, his wife asked the Internet online, and the merchant sent God to assist The most surprising seven players?Downs first!Hilde, three goals on the list! Shenzhen Chuanyin Communications under Chuanyin was awarded the title of new "Little Giant" enterprise in the national specialized specialty The stock price of the market fell by 6.43%in the afternoon of US $ 13.37 in the US real estate investment Sure enough!6 major foreign aid blessings, old acquaintances return, Zhou Peng will lead the Shenzhen team to take off The Egyptian Museum opened the night exhibition tourists with close contact with Pharaoh

©2024 ttnews All rights reserved

Privacy Policy | Service Terms | contact us