Citigroup has released a research report stating that its recent bullish view on lithium has performed well, while its view on aluminum has not. The bank analyzed the performance divergence between commodities and equities since the Iran conflict and adjusted its short-term preference rankings. Overall, with the exception of lithium stocks, all other mining stocks have underperformed relative to their related commodities and their US-listed mining peers. This may reflect the stock market discounting risks associated with slowing demand in China. Nevertheless, Citi believes mining stocks should subsequently catch up with commodity price trends. Citi has adjusted its commodity preferences in the following order: copper > aluminum > lithium > lithium iron phosphate (LFP) cathode > batteries > gold > coal > steel > cement. Considering that copper prices are currently lagging and the potential for a de-escalation in Middle East tensions, the bank has elevated copper to the top position. Citi's new top stock picks are: CATL (03750), MMG (01208), CMOC (03993), CHALCO (02600), Ganfeng Lithium (01772), and Hunan Yuneng New Energy Battery Material Co., Ltd. (301358.SZ).