Minsheng Securities: industrial metals fluctuate upward, and commodities will maintain a bull market pattern in the future

According to the online news of the securities times, Minsheng Securities pointed out that China’s steady growth goal is officially clear, superimposed on the impact of foreign situations, industrial metals fluctuate upward, and commodities will continue to maintain a bull market pattern in the future. Aluminum: on the supply side, the resumption of electrolytic aluminum production in China has been accelerated, and the overall operating capacity has increased steadily; The start-up in the lower reaches of Chinalco picked up slightly, and the social inventory was 1.12 million tons, with a slowdown in growth; Western sanctions against Russia continued to increase, overseas aluminum supply and transportation were limited, crude oil rose sharply, European natural gas prices were high, and aluminum prices would run high under the support of costs. Copper: last week, China’s spot inventory fell, and the stock accumulation trend after the spring festival may gradually end. Combined with the tight supply situation in the overseas market, there is a high probability of maintaining the long-term stock removal in the future. The superposition enters the peak consumption season in March, supporting the upward trend of copper price. Focusing on the focus of the following focus: followingfollowing the following following: followingthe\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Tongling Nonferrous Metals Group Co.Ltd(000630) , Western Mining Co.Ltd(601168) , China nonferrous mining industry, etc.

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