China PMI, LME copper, aluminium, steel and chemicals — mapped to Shenzhen's most important cyclical stocks. SZSE complements SSE with a focus on newer industries and private enterprises.
China PMI, LME copper, aluminium, steel and chemicals — mapped to Shenzhen's most important cyclical stocks. SZSE complements SSE with a focus on newer industries and private enterprises.
| Stock | Ticker | Signal | Value now | Best cycle | Status |
|---|---|---|---|---|---|
| CITIC Pacific Special Steel | 000878.SZ | China HRC steel | ~$420/t | +160% | HOLD |
| Angang Steel | 000898.SZ | China HRC steel | ~$420/t | +160% | HOLD |
| Yunnan Aluminium | 000807.SZ | LME Aluminium | $2,600/t | +180% | HOLD |
| Jiangxi Copper | 000630.SZ | LME Copper | $12,043/t | +200% | SELL |
| Shanxi Coking Coal | 000983.SZ | Hard coking coal | $215/t | +200% | HOLD |
| Hubei Xinyangfeng | 000902.SZ | Urea price | $270/t | +140% | HOLD |
| Valin Steel | 000932.SZ | HRC steel + PMI | ~$420/t | +150% | HOLD |
| Henan Shenhuo Coal | 000933.SZ | Coal + Aluminium | Mid-cycle | +160% | HOLD |
| Zijin Mining | 601899.SS | Copper + Gold | $12,043/t | +250% | SELL |
| Kingenta Ecological | 002470.SZ | Urea + fertilizer | $270/t | +130% | HOLD |
LME Copper DEEP SELL: Jiangxi Copper, Zijin Mining and Tongling Nonferrous are exposed to copper at multi-year highs. China is the world's largest copper consumer but $12,043/t prices in significant future demand. Reduce.
China HRC Steel NEUTRAL: CITIC Special Steel, Angang and Valin are mid-cycle tracking domestic steel prices at ~$420/t. China HRC is lower than global benchmarks due to domestic overcapacity and weaker property demand.
Aluminium NEUTRAL: Yunnan Aluminium and Henan Shenhuo at mid-cycle LME aluminium $2,600/t. Watch energy costs — aluminium smelting is highly electricity-intensive, and power costs significantly affect margins.
SZSE is home to more private enterprises than SSE (which is dominated by state-owned companies). This means more market-driven dividend policies — and cleaner commodity signal-to-earnings relationships.
Weekly updates across all macro signals mapped to your holdings.
Join the Waitlist — Free →What is the difference between SSE and SZSE?
Shanghai SSE is dominated by large state-owned enterprises (banks, energy, steel). Shenzhen SZSE has more private enterprises and smaller/mid-cap companies. SZSE also includes ChiNext, China's tech-focused board. For commodity cyclicals, both exchanges have important names.
Why is Yunnan Aluminium special?
Yunnan Aluminium benefits from access to low-cost hydroelectric power in Yunnan province, making it one of China's lowest-cost aluminium smelters. Low electricity costs give it a structural cost advantage — important when LME aluminium prices are low.
How does the property sector affect SZSE steel stocks?
Chinese property construction is the dominant demand driver for steel — CITIC Special Steel, Angang and Valin all track construction activity. The prolonged property crisis since 2021 has been a significant headwind. Any genuine recovery would be strongly positive.
What is Zijin Mining's key signal?
Zijin Mining is China's largest gold and copper miner. LME copper at $12,043/t puts Zijin in SELL territory on the copper signal. Gold at $3,200+/oz is also in SELL territory. Both primary metals are at or near cycle highs.