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<Research>Daiwa: Commodity Bull Mkt Envisioned to Benefit Lithium, Polysilicon, Coal in ST
Recommend 91 Positive 162 Negative 75 |
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The prices of various commodity futures elevated broadly, Daiwa highlighted in its report. These included coke, industrial silicon, lithium, and polysilicon. In view of the expected supply control policies and China's infrastructure demand increase following the announcement of the world's largest hydropower project in Tibet, the broker believed that the prices of upstream commodity futures in China will show an uptrend in the short term, thereby bolstering the stock prices of polysilicon and lithium companies. The broker foresaw thermal coal prices to rebound by up to 10% in the short term and gave CHINA SHENHUA (01088.HK) a Hold rating. Besides, the broker viewed that the Chinese government's steadfast determination to prevent deflation in upstream materials will support the ASPs of materials in the short term. However, due to the potential shrinkage in global photovoltaic demand next year, Daiwa considered the ASP of polysilicon will not continue to rebound. Regarding lithium, without strong growth in demand for EVs and energy storage systems in the EU or the US, lithium prices are unlikely to rise in 2025 and 2026. AASTOCKS Financial News Website: www.aastocks.com |
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