In a recent research report, CITIC SEC highlighted that earnings growth within the metals industry is set to accelerate through the first half of 2026. Leading the charge are tungsten, aluminum, lead-zinc, and other rare metals, while copper, rare earth magnets, gold, and nickel-cobalt-tin-antimony are also posting gains. The lithium segment is projected to turn a profit, marking a significant turnaround.

The report suggests that the current valuation of the metals sector remains within a reasonable range. Notably, aluminum, copper, lithium, and nickel-cobalt-tin-antimony are trading at relatively lower valuations, presenting potential opportunities for segment-specific recovery. Industry positioning has reverted to a neutral weighting, and while dividend payout ratios have dipped slightly, several sub-sectors still offer dividend yields comfortably above 5%.

Looking ahead to the second half of the year, CITIC SEC anticipates that liquidity pressures may ease, while signs of supply disruptions are gradually emerging. With demand maintaining a steady growth trajectory, the firm advises investors to keep a close watch on opportunities within the gold, copper, strategic metals, rare earth, aluminum, and lithium sectors.