CITIC Securities: High-Quality Development Plan for Copper Industry Unveiled, Chain Optimization Promising

[CITIC Securities: High-Quality Development Plan Announced, Copper Industry Chain Optimization Is Worth Anticipating]

CITIC Securities' research report states that China has released the "Implementation Plan for High-Quality Development of the Copper Industry (2025–2027)." The implementation of the plan is expected to promote the exit of domestic copper smelting capacity and structural optimization, facilitate a reasonable rebound in long-term TC, and support the profitability recovery of smelters. Meanwhile, the acceleration of resource exploration, production increase, and project construction will help enhance China's raw material security. Enterprises with corresponding resource layouts are expected to fully benefit. The plan's positive impact on the optimization of the copper industry chain is promising, and the "Outperform" rating for the copper sector is maintained.