Metal Mining: Strong Qoq Earnings Growth on Higher ASP, Expect 1H24 to Be Mixed
We estimate the sector’s 2Q earnings to proliferate on the back of a stronger ASP and volume, yet still leading to a slightly below 1H.
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Metal Mining: Better earnings prospect from possible price bottoming (OVERWEIGHT)
We believe the supply surplus may be buffered by demand from batteries and SS; our FY24-25F Ni price assumptions at US$18k/17.5k/t
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The Week That Was in ASEAN@Smartkafarma - Medikaloka Hermina, Avian Paints, and Vinfast
The past week saw insights on Medikaloka Hermina (HEAL IJ), PT Avia Avian (AVIA IJ), Vinfast (VFS US), CP FOODS (CPF TB), and Johor Plantations IPO.
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Equity Strategy - Looking into potential late-cycle plays in commodity sectors
Looking into potential late-cycle plays in commodity sectorsAs metal prices are likely entering a ‘late-cycle’ phase. we see copper’s outlook as...
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Nickel: Expect NPI Price to Decouple and Stabilize
While we expect LME nickel price to decline further in FY24F, we project NPI price will decouple and stabilize at US$14k/t.
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