Citibank: Adjustments to the preference ranking of goods, copper is the top choice. New top stock picks include Contemporary Amperex Technology (03750) and others.

Citigroup released a research report recently, stating that their optimistic view on lithium has performed well, but their view on aluminum is not the same. The bank analyzed the performance difference between commodities and stocks since the conflict in Iran and adjusted their short-term preference ranking. Overall, except for lithium stocks, the performance of all other mining stocks has been inferior to related commodities and mining peers listed in the United States. This may reflect the stock market discounting the risk of slowing demand in China. Nevertheless, Citigroup believes that mining stocks should follow the trend of commodity prices in the future. Citigroup adjusted its commodity preferences in the following order: copper > aluminum > lithium > lithium iron phosphate cathode > batteries > gold > coal > steel > cement. Considering that the price of copper is currently lagging behind and the situation in the Middle East may cool down, the bank has placed copper in the top position. Citigroup's new top stock picks are: Contemporary Amperex Technology (03750), MMG (01208), CMOC Group Limited (03993), Aluminum Corporation Of China (02600), Ganfeng Lithium Group (01772), and Hunan Yuneng New Energy Battery Material (301358.SZ).