中信证券：重点关注黄金、稀土、铜、铝、锡和钨板块配置机遇

Core Viewpoint - The metal industry is expected to see steady profit growth in 2024 and the first quarter of 2025, with gold, nickel, cobalt, tin, antimony, rare earth magnetic materials, and copper leading the sector [1] Industry Summary - The current valuation of the metal industry remains relatively low, with aluminum, copper, nickel, cobalt, tin, and antimony at comparatively low levels, indicating potential for valuation recovery [1] - The trend of increasing dividend returns in the industry continues, with some individual stocks offering dividend yields exceeding 5%, reflecting an ongoing enhancement in shareholder return capabilities [1] - Looking ahead to the second half of 2025, the industry should focus on investment opportunities in gold, rare earths, copper, aluminum, tin, and tungsten, particularly in the context of trade disputes and the gradual implementation of liquidity and fiscal policies [1]