CITIC Securities: Gold and copper prices are expected to rise in Q4, while crude oil will fluctuate at high levels

CITIC Securities released its Q4 commodities outlook report: The average futures contract prices for polysilicon and industrial silicon are expected to be 36,000 CNY/ton and 8,500 CNY/ton, respectively, while the main futures contract price for rubber is expected to operate strongly within the 19,000–21,000 CNY/ton range. Brent crude oil is forecasted to fluctuate at a high level near 100 USD/barrel, and the average price of thermal coal during the peak season may rise to 875 CNY/ton. The price range for hot-rolled coil is projected to be 3,150–3,400 CNY/ton, and for iron ore, 88–100 USD/ton. For non-ferrous metals: Gold and LME copper are expected to trade in the ranges of 4,000–4,500 USD/oz and 14,000–15,000 USD/ton, respectively; domestic aluminum price is expected to be 22,500 CNY/ton, and lithium carbonate is projected to range between 100,000–120,000 CNY/ton.