Recent perspectives:
Last week, the A-share market slumped 2.40%, while the non-ferrous sector also fell 2.36%. Among them, the large gains in the previous period have seen a large drop in the lithium and rare earth sectors. For individual stocks, tin shares and gold molybdenum shares were sought after by investors as rumored that the country will introduce new control measures for upstream production.
Our recent opinion is: continue to look at precious metals and energy-intensive metal plates, and at the same time begin to pay attention to basic metal plates. We believe that the uncertainty of the economic outlook and investors' concerns about the currency systems of various countries will continue to push up prices at the current high gold and silver prices. The National Development and Reform Commission issued the “Emergency Notice on Further Enhancing Current Energy-saving and Emission-reducing Work,†and the prices of high-energy metal such as ferrosilicon, magnesium, and manganese have skyrocketed. We believe that this situation will continue in the fourth quarter and continue to recommend high-energy-consuming sectors.
Important Comments: 1. Under the pressure of energy conservation and emission reduction, the price of high energy-consuming metals has skyrocketed - continue to recommend high-energy-consuming sectors; 2. The price of gold and silver has reached a new high, and the trend will continue - continue to recommend precious metal plates; 3. Tungsten concentrates push up the price of tungsten products - continue to recommend Chenzhou Mining; 4. Yunhai Metals intends to revoke non-public offerings - which can be concerned about the trading opportunities brought by the increase in magnesium prices after oversold; 5. The US dollar index fell sharply. The Bank of Japan stepped in to intervene in the exchange rate.
Metal data changes tips:
Copper: The LME copper price and canceled warehouse receipts have risen in tandem. This week, the copper price is weak and strong outside.
Aluminium: LME aluminum prices rebounded slightly, spot premiums reached pre-platform positions.
Lead: LME's lead price did not increase much this week, and the cancellation of warehouse receipts increased by 30%.
Zinc: The number of canceled warehouse receipts by LME continues to fall, and the spot price is slightly narrower.
Other metals: Steel prices have fallen slightly, and prices of high-energy-consuming metals have risen significantly.