Founder Securities: Focus on the rhythm of metal packaging price negotiations, industrial synergy is expected to drive profit recovery

Fangzheng Securities released a research report indicating that the supply and demand in the metal packaging industry is improving, with the fourth quarter being a price negotiation window period. It is recommended to pay attention to the bargaining process of leading enterprises. After ORG Technology acquired COFCO Packaging, the industry concentration increased, and overall profitability is expected to improve. The demand in the Chinese metal packaging market mainly comes from food and beverages, with the canning rate for beer still having room for improvement, driving demand growth. Risks include downstream demand being lower than expected and fluctuations in raw material prices