<div id="readability-page-1"><div>Citi released a report noting that its recent bullish view on lithium has performed well, while its stance on aluminum has not. The bank analyzed the divergence in performance between commodities and equities since the Iran conflict and adjusted its short-term preference ranking. Overall, except for lithium-related stocks, all other mining stocks have underperformed the corresponding commodities as well as US-listed mining peers. This may reflect that the equity market is pricing in the risk of slowing demand in China.Nevertheless, Citi believes mining stocks should eventually catch up with commodity price trends. Citi has adjusted its commodity preference ranking to copper &gt; aluminum &gt; lithium &gt; LFP cathode materials &gt; batteries &gt; gold &gt; coal &gt; steel &gt; cement. Considering that copper prices are currently lagging and tensions in the Middle East may ease, the bank has raised copper to the top position. Citis new top picks are: CATL (03750.HK) -7.000 (-1.065%) Short selling $166.04M; Ratio 29.644% , MMG (01208.HK) +0.210 (+2.108%) Short selling $16.60M; Ratio 12.527% , CMOC (03993.HK) +0.470 (+2.380%) Short selling $124.88M; Ratio 40.816% , CHALCO (02600.HK) +0.130 (+1.166%) Short selling $3.03M; Ratio 2.271% , GANFENGLITHIUM (01772.HK) -2.400 (-2.837%) Short selling $117.19M; Ratio 32.105% and HUNAN YUNENG (301358.SZ) -0.250 (-0.254%) . (da/a)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-12 12:25.) (A Shares quote is delayed for at least 15 mins.)</div></div>

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Citi has adjusted its commodity preference ranking, placing copper at the top due to its lagging prices and easing Middle East tensions. The bank's report highlights a strong performance in lithium stocks, while aluminum has underperformed. Overall, mining stocks are expected to align with commodity price trends despite current underperformance. Citi's new top picks include CATL, MMG, CMOC, CHALCO, GANFENGLITHIUM, and HUNAN YUNENG, with varying short selling ratios and price changes.

AASTOCKS News

CATL

GANFENGLITHIUM

Yuneng New Energy

Ganfeng Lithium

Penghua Guozheng Non-ferrous Metal Industry ETF

ChinaAMC CSI Subdivision Non-ferrous Metal Sub-Industry ETF

China Southern CSI SWS Non-Ferrous Metal ETF

Guotai CSI Non-ferrous Metal ETF

Guotai CSI Non-Ferrous Metal Kuangye Theme ETF

Hwabao WP CSI Non-ferrous Metal ETF

Yinhua CSI Non-ferrous Metal ETF

CMOC

CHALCO

CATL HK SDR 30to1

Citi Adjusts Commodity Preference Ranking, Tops Copper; New Top Picks Include CATL , MMG , CMOC , CHALCO , GANFENGLITHIUM