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中信证券:低位资产关注度有望提升 煤炭、电解铝等品种四季度预计偏强运行
Xin Lang Cai Jing· 2025-10-30 00:47
Core Viewpoint - The report from CITIC Securities indicates rising concerns about the risks associated with high-priced assets as commodity prices, such as copper and gold, reach historical highs. This has led to increased attention on underperforming commodities like crude oil, coal, and electrolytic aluminum [1] Group 1: Commodity Price Trends - Copper prices are expected to remain high, supporting the aluminum price due to the anticipated return of the copper-aluminum ratio [1] - The price of thermal coal is projected to continue its recovery trend in Q4 2025, driven by seasonal demand and policy influences [1] - Coking coal prices are expected to decline quarter-on-quarter due to weakening demand [1] - Crude oil prices are likely to continue fluctuating at low levels due to a relaxed supply environment [1]