CITIC Securities: Seizing the valuation recovery opportunities under the expectations of rising copper prices and improved sentiment in the industry.

CITIC Securities research report stated that multiple positive factors are driving copper prices to once again break through $14,000, with core driving factors such as declining inventory and supply disturbances expected to continue. Most potential paths of tariffs are still favorable for copper, and under a neutral assumption, copper prices are expected to break through $15,000 within the year. The copper sector is still in the early stages of valuation repair, and the formation of price increase expectations and improved market sentiment will continue to drive valuation repair.