智通财经APP获悉，有色金属股午后涨幅扩大，截至发稿，天齐锂业(09696)涨8.34%，报42.6港元；赣锋锂业(01772)涨7.34%，报33.36港元；紫金矿业(02899)涨5.62%，报28.18港元；中国铝业(02600)涨5.05%，报6.87港元；中国宏桥(01378)涨4.13%，报24.72港元。
兴业证券指出，美联储降息预期升温，将显著提振商品的需求；美元贬值预期下，大宗商品"抗通胀"属性凸显。截至2025年中报，A股贵金属及工业金属板块正处于“高盈利，低估值”阶段。考虑到海外由高通胀转温和通胀，且降息后，美国长期温和通胀或通胀抬头概率较高；国内资本市场交易活跃度上行及“高切低”轮动效应下，增量资金有望带动板块估值提升。估值较为扎实的资源股有望迎来“戴维斯双击”时刻。
此外，中国电力革命及全球算力革命，均将持续推动金属原料需求的持续高增；以及，各国对关键矿产资源的保护及追逐愈加明显，核心资源头部化特征明显。预计关键矿产资源价值重估，将逐渐抵消商品周期属性带来的估值负面压制。该行认为，资源品的估值体系将在未来得到不断地丰富及优化。
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