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Cinda Securities Nonferrous Metals Weekly report: metal prices are strong and benefit from steady growth_SMM

[Cinda Securities: strong prices of non-ferrous metals and benefit from steady growth] China has placed deep emphasis on steady growth, and the Fed has tightened faster than expected. In early January, Chinese executives further emphasized the policy of stabilizing growth, while emphasizing the security of energy supply. The policy orientation of steady growth will hopefully promote the easing and elimination of metal supply-side constraints, and it will also promote the recovery of downstream manufacturing demand, and the logic of metal prices will accelerate the transition from the supply side to the demand side. Since December, the positive policy of real estate has landed rapidly, the expansion of infrastructure investment has become the main focus of steady growth, and the metal varieties with high demand in the construction industry are expected to continue to maintain a strong trend. ....

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