Core Insights - The report maintains a "Buy" rating for the non-ferrous metals sector, with copper prices stabilizing at $11,000 per ton, indicating a positive outlook for the industry [2][3] - The report highlights the expected slight decline in industrial metal prices due to the Federal Reserve's interest rate cut, while maintaining a medium-term upward trend for copper prices [6] Industrial Metals and Steel - The Federal Reserve's interest rate cut is anticipated to lead to a slight decline in industrial metal prices. Copper prices reached a historical high of $11,800 per ton on December 11, 2025, with COMEX copper inventories hitting a record 410,000 tons [6] - The report notes a balanced supply-demand situation in the steel market, with a 1% decrease in rebar procurement in Shanghai and a 1.5 percentage point drop in blast furnace operating rates [6] - Key companies to watch include Jiangxi Copper, Tongling Nonferrous Metals, and China Molybdenum [6] Gold - The Federal Reserve's interest rate cut is expected to solidify the long-term upward trend in gold prices. Initial jobless claims in the U.S. rose to 236,000, exceeding expectations [6] - Companies of interest in the gold sector include Zhaojin Mining and Zhongjin Gold [6] Minor Metals - The report expresses optimism regarding cobalt prices, with a slight decrease in electrolytic cobalt prices to 410,000 yuan per ton. The supply-demand gap is expected to widen following the implementation of new export quotas from the Democratic Republic of Congo [6] - Companies to monitor include Huayou Cobalt and Tianqi Lithium [6] Company Valuation and Financial Analysis - The report provides a detailed valuation and financial analysis of key companies in the sector, with several companies rated as "Buy" based on their expected performance over the next 12 months. For instance, Luoyang Molybdenum is rated with a target price of 19.74 yuan per share, while China Aluminum is rated with a target price of 13.02 yuan per share [7]

进一步统计，近3个月内该股累计发生7笔大宗交易，合计成交金额为1.85亿元。 （原标题：中国铝业发生3笔大宗交易 合计成交3131.80万元） 中国铝业12月12日大宗交易平台共发生3笔成交，合计成交量291.33万股，成交金额3131.80万元。成交 价格均为10.75元。从参与大宗交易营业部来看，机构专用席位共出现在3笔成交的买方或卖方营业部 中，合计成交金额为3131.80万元，净卖出3131.80万元。 12月12日中国铝业大宗交易一览 | 成交量 | 成交金 额 | 成交价 | 相对当日 收盘折溢 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万 | 格 | 价 | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | | 元） | | （%） | | | | 138.77 | 1491.78 | 10.75 | 0.00 | 国泰海通证券股份有限公司总部 | 机构专用 | | 104.45 | 1122.83 | 10.75 | 0.00 | 瑞银证券有限责任公司上海花园石桥路证券营业 部 | 机构专用 | | 48 ...

中铝几内亚博法项目2025年度铝土矿装船量突破2000万吨大关，刷新了该公司海外铝土矿供应纪录。 （中国有色金属报） ...

本文源自：金融界AI电报 港股有色金属开涨，江西铜业股份(00358.HK)涨3.35%，紫金矿业(02899.HK)涨2%，山东黄金 (017817.HK)、中国铝业(02600.HK)、天齐锂业(09696.HK)、洛阳钼业(03993.HK)跟涨。 ...

Core Viewpoint - The research team at Tianjin University has made significant progress by developing a new low-corrosive "organic dichloro" electrolyte, which addresses a major barrier for the large-scale application of aluminum metal batteries [1] Industry Summary - As of December 10, the non-ferrous metals index ranks second in annual growth among all Shenwan first-level industries [1] - The aluminum industry, being the largest non-ferrous metal sector, has also shown strong performance in the secondary market [1] - Year-to-date, aluminum-related stocks have averaged a 48.13% increase, with four stocks doubling in value: Zhongfu Industrial, Hongchuang Holdings, Yian Technology, and Yun Aluminum [1] - As of December 10, 11 aluminum stocks have a dynamic price-to-earnings ratio below 20 times, including Mingtai Aluminum, Nanshan Aluminum, Jiaozuo Wanfang, Xinjiang Zhonghe, and China Aluminum [1]

Group 1 - The Hong Kong stock market's non-ferrous metal sector has seen an upward trend, with Lingbao Gold (03330.HK) rising over 7% [1] - Ganfeng Lithium (01772.HK) increased by more than 4%, while Tianqi Lithium (09696.HK) rose over 3% [1] - Other companies such as Zhaojin Mining (01818.HK), China Hongqiao (01378.HK), and China Aluminum (02600.HK) also experienced gains [1]

Group 1 - The Hang Seng Index fell by 0.84%, down 215 points, closing at 25,549 points, while the Hang Seng Tech Index dropped by 1.32% [1] - The trading volume in the Hong Kong stock market reached HKD 107.8 billion in the morning session [1] - Optical communication stocks surged, driven by increased demand for high-speed optical transceiver modules, with institutions predicting a significant rise in shipment volumes next year [1] Group 2 - Notable gainers included Hongteng Precision, which rose by 7.95%, and Changfei Optical Fiber, which increased by 4.57% [1] - Zhaoyan New Drug saw an increase of over 8% due to a surge in the price of experimental monkeys, with institutions indicating a potential widening supply-demand gap [1] - The stock of Excellence Education, a provider of digital solutions for higher education, rose over 16% on its second day of trading, with its market value approaching HKD 10 billion [1] Group 3 - Oil stocks collectively declined, with geopolitical events weakening support for oil prices, although institutions remain optimistic about the long-term investment value of major oil companies [1] - PetroChina fell by 3%, Sinopec by 2.21%, and CNOOC by 2.32% [1] Group 4 - The non-ferrous metals sector faced significant declines, with Jiangxi Copper down 5.96%, Luoyang Molybdenum down 6.27%, and China Aluminum down 5.34% due to market concerns over central banks' interest rate policies [2] - Silver Noble Pharmaceuticals saw a drop of over 14%, with a cumulative decline of 25% since entering the market [2] Group 5 - Ocean Park Corporation's stock fell by 9%, reaching a new low for the year, amid financial product repayment issues faced by its controlling shareholder [3]

（文章来源：每日经济新闻） 每经AI快讯，港股有色股跌幅居前。截至发稿，江西铜业股份(00358.HK)跌6.57%，报33.56港元；洛阳 钼业(03993.HK)跌6.27%，报17.93港元；中国铝业(02600.HK)跌4.73%，报10.88港元；紫金矿业 (02899.HK)跌4.54%，报32.4港元。 ...

Group 1 - The article highlights a significant decline in the prices of non-ferrous stocks, with Jiangxi Copper Co. falling by 6.57% to HKD 33.56, Luoyang Molybdenum Co. down 6.27% to HKD 17.93, China Aluminum Corporation decreasing by 4.73% to HKD 10.88, and Zijin Mining Group dropping 4.54% to HKD 32.4 [1] - Market expectations indicate that the Bank of Japan may adjust its interest rate hike pace, while the European Central Bank's executive Schnabel's hawkish remarks have led to increased market speculation about rate hikes next year [1] - Analysts suggest that the market has largely priced in the Federal Reserve's expected rate cut this week, but investors believe that the policy statement and Chairman Powell's comments may indicate a higher threshold for further rate cuts [1] Group 2 - Dongfang Securities previously noted that the current rate cut cycle may signal the arrival of a super cycle for industrial metals, particularly copper and aluminum [1] - The firm is optimistic about the demand for copper driven by U.S. electricity investments by 2026, as well as the demand for aluminum spurred by energy storage and alternative needs [1] - The anticipated significant rise in industrial metal prices is expected to influence inflation expectations, leading to a recommendation to focus on the copper and aluminum sectors [1]

（文章来源：每日经济新闻） 每经AI快讯，12月9日，有色金属概念股早盘走低，闽发铝业、精艺股份跌超5%，罗平锌电、电工合 金、常铝股份、江西铜业、中国铝业等跌超3%。 ...