中国银河指出，决定性宏观逻辑扭转，美联储进入降息周期、国内经济复苏由预期成为现实，有望带动有色金属行业进入新一轮上行周期。目前A股有色金属行业估值仍处于历史较低的水平，市盈率位于近10年历史16.64％的估值分位。建议关注中期金价上涨逻辑继续演绎的黄金板块、铜矿供应缺口扩大且最受益经济复苏与流动性宽松的铜板块、行业迎来利润底部拐点等多周期共振向上的电解铝板块。The non-ferrous Sector warmed up in the morning. As of the time of writing, CMOC Group Limited (03993) rose 4.74%, reporting HKD 5.52; JIANGXI COPPER (00358) rose 3.23%, reporting HKD 12.78; CHINAHONGQIAO (01378) rose 3.16%, reporting HKD 11.74; Aluminum Corporation Of China (02600) rose 3.61%, reporting HKD 4.59.
According to the Zhito Finance APP, the Nonferrous Metals Sector warmed up in the early trading session. As of the time of writing, CMOC Group Limited (03993) rose 4.74%, trading at 5.52 HKD; JIANGXI COPPER (00358) rose 3.23%, trading at 12.78 HKD; CHINAHONGQIAO (01378) rose 3.16%, trading at 11.74 HKD; Aluminum Corporation Of China (02600) rose 3.61%, trading at 4.59 HKD.
On the news front, a relevant person from the National Development and Reform Commission stated at a press conference today that by 2025, the implementation of the 'two new' policies will be strengthened and expanded, with greater support for 'two heavy' projects. Xiao Weiming, Deputy Secretary-General of the National Development and Reform Commission, mentioned that a special action will be implemented to boost Consumer spending, combining promoting consumption with benefiting people's livelihoods. Initial considerations for strengthening policy measures include: firstly, promoting residents' income increase and debt reduction. Secondly, enriching the supply of consumption products and services. Thirdly, cultivating new growth points for consumption. Fourthly, improving the consumption environment.
China Galaxy pointed out that the decisive macro logic has shifted, with the Federal Reserve entering a rate-cutting cycle and the domestic economic recovery transitioning from expectation to reality, which is expected to drive the Nonferrous Metals Industry into a new upward cycle. Currently, the valuation of the Nonferrous Metals industry in the A-share market remains at historically low levels, with a PE ratio situated at the 16.64% valuation percentile over the past 10 years. It is recommended to pay attention to the Gold Sector, which continues to reflect the logic of rising gold prices, the Copper Sector which benefits from the widening supply gap and economic recovery as well as liquidity easing, and the Electrolytic Aluminum Sector that is experiencing a profit bottom turning point resonating upwards through multiple cycles.