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<Research>HSBC Research Likes Aluminum Most in CN Materials Sector, Rates CHINAHONGQIAO/ CHALCO as Buy
Recommend 38 Positive 63 Negative 24 |
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HSBC Global Research has released its monthly commodities research report, highlighting robust demand and stretched supply as fuel that keeps base metal prices strong. Considering the tight balance between market supply and demand, the broker estimates that there may be further upside risk for prices. In China's materials sector, HSBC Global Research favors aluminum stocks, anticipating that low inventory and a 45 million ton capacity limit will provide solid support for aluminum prices. It also has a positive long-term outlook for gold and construction materials. HSBC Global Research gave CHINAHONGQIAO (01378.HK) and CHALCO (02600.HK) a Buy rating with target prices of HKD37.4 and HKD12.3, respectively. It also rated ZHAOJIN MINING (01818.HK), SD GOLD (01787.HK), and ZIJIN GOLD INTL (02259.HK) as Buy. AAStocks Financial News |
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