今日涨跌幅居前的概念板块 截至7月16日收盘，金属锌概念下跌1.18%，位居概念板块跌幅榜前列，板块内，西藏珠峰、卧龙新 能、兴业银锡等跌幅居前，股价上涨的有6只，涨幅居前的有ST盛屯、宏达股份、智慧农业等，分别上 涨1.39%、0.83%、0.64%。 金属锌概念资金流出榜 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 002155 | 湖南黄金 | -1.21 | 1.90 | -9236.77 | | 000426 | 兴业银锡 | -3.69 | 2.89 | -8025.05 | | 601168 | 西部矿业 | -0.49 | 0.84 | -4764.77 | | 002716 | 湖南白银 | -2.55 | 9.21 | -3528.67 | | 000960 | 锡业股份 | 0.00 | 1.27 | -3081.00 | | 600961 | 株冶集团 | -2.02 | 2.98 | -2779.32 | | 001203 | 大中矿业 | -1.69 | 1.88 ...

截至2025年7月14日收盘，西部矿业(601168)报收于16.41元，下跌0.55%，换手率1.54%，成交量36.68万手，成交额6.04亿元。 董秘最新回复 投资者： 投资贵司股票十几年来，最大的感受就是贵司经常出现各种莫名其妙的计提、高价购买大股东资产，包括最近的巨额套保亏损，让投资 者心惊胆战的，睡不好觉，完全跟稳定无缘，贵司回答套保是为了增加财务的稳定性，在投资者眼里反而是增加财务的不稳定性，铜价涨，贵司 业绩就不涨，就像木桶理论一样，这边在往木桶倒水，那边却从木桶上的另外一个孔流了出去，大家都在提醒贵司赶紧把孔堵住，可是贵司却坚 持不赌，投资者真的很焦虑。 董秘： 公司的目标始终是通过审慎的财务管理来实现长期稳定的增长。公司会不断优化这些策略，以确保更好地平衡风险与收益，增强财务透明 度和稳定性。 投资者： 套保的目的应该是为了锁定冶炼的利润，而贵司套保却锁定了亏损，套保亏损同时冶炼也亏损，两者都亏损的情况下为何要提前锁定？ 套保亏损是因为铜价上涨，如果你冶炼端盈利的情况下套保，那么整体才会盈利，因为现货上涨跟期货套保亏损可以抵消，但是你在冶炼端亏损 的情况下就套保了，那么无论铜涨跌，期现结合 ...

截至7月9日收盘，金属锌概念下跌1.46%，位居概念板块跌幅榜前列，板块内，紫金矿业、株冶集团、 西部矿业等跌幅居前，股价上涨的有4只，涨幅居前的有大中矿业、智慧农业、浙富控股等，分别上涨 10.05%、3.19%、0.95%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 托育服务 | 1.82 | 中船系 | -2.12 | | 短剧游戏 | 1.25 | PVDF概念 | -1.65 | | 信托概念 | 1.22 | 存储芯片 | -1.49 | | 知识产权保护 | 1.21 | 稀土永磁 | -1.48 | | AI语料 | 1.09 | 金属锌 | -1.46 | | 化债概念(AMC概念) | 1.07 | 金属镍 | -1.45 | | 虚拟数字人 | 0.98 | 有机硅概念 | -1.38 | | 共享单车 | 0.96 | 金属铅 | -1.21 | | Sora概念(文生视频) | 0.89 | 国家大基金持股 | -1.19 | | 文化传媒概念 | 0.82 | 磷化工 | - ...

——铜行业周报（20250630-20250704） 要点 2025 年 7 月 6 日 行业研究 6 月电解铜产量环比下降 0.3%、同比增长 13% 本周小结：需求继续走弱，逼仓风险仍存。截至 2025 年 7 月 4 日，SHFE 铜收 盘价 79730 元/吨，环比 6 月 27 日-0.24%；LME 铜收盘价 9852 美元/吨，环 比 6 月 27 日-0.27%。（1）交易：LME 铜库存本周微升，但仍处于 10 万吨以 下，美国以外的铜市场现货紧张局面并未扭转。（2）供需：矿端、废铜预期后 续仍维持紧张；需求端，线缆开工率持续回落，7-9 月国内空调排产同比增速逐 步放缓，需求后续有走弱风险。短期逼仓风险仍存，铜价或仍表现强势，逼仓交 易结束后或重回震荡。 库存：国内铜社库环比+1.3%，LME 铜库存环比+5.1%。（1）国内港口铜精矿 库存：截至 2025 年 7 月 4 日，国内主流港口铜精矿库存 66.6 万吨，环比上周 +6.8%。（2）全球电解铜库存：截至 2025 年 6 月 30 日，全球三大交易所库存 合计 38.1 万吨，环比-4.1%。截至 2025 年 7 月 3 日 ...

Investment Rating - The investment rating for the non-ferrous metals industry is "Positive" (maintained) [4][106]. Core Views - The report highlights that copper prices are experiencing fluctuations due to the interplay of the 232 investigation and interest rate cut expectations, with recent price changes showing a mixed trend [5]. - The report emphasizes the importance of low inventory levels in supporting copper prices, while also noting the potential impact of the 232 copper import investigation and upcoming interest rate decisions by the Federal Reserve [5]. - The report suggests monitoring companies such as Zijin Mining, Luoyang Molybdenum, Jincheng Mining, and Western Mining for investment opportunities [5]. Summary by Sections 1. Industry Overview - The report provides insights into macroeconomic indicators, including U.S. employment data, which may influence market conditions [9]. - The non-ferrous metals sector's performance is analyzed, with the sector underperforming compared to the Shanghai Composite Index [11]. 2. Industrial Metals 2.1 Copper - Recent price movements show LME copper up by 0.25%, while SHFE copper is down by 0.24% [25]. - Inventory levels for copper have increased, indicating a potential shift in market dynamics [25]. 2.2 Aluminum - LME aluminum prices increased by 0.41%, with inventory levels also rising [35]. - The report notes a decrease in aluminum smelting profits, attributed to rising costs [35]. 2.3 Lead and Zinc - Lead prices have seen a slight increase, while zinc prices have decreased [48]. - Inventory levels for both metals are discussed, highlighting market supply conditions [48]. 2.4 Tin and Nickel - Tin prices have decreased slightly, while nickel prices have shown an upward trend [62]. - The report discusses profitability metrics for nickel producers in both domestic and international markets [62]. 3. Energy Metals 3.1 Lithium - Lithium prices have shown a slight rebound, with specific price changes noted for lithium carbonate and lithium spodumene [74]. - The report indicates that supply-side adjustments are anticipated, which may affect future pricing [74]. 3.2 Cobalt - Cobalt prices have increased domestically due to export bans from the Democratic Republic of Congo, which may create supply constraints [86]. - The report highlights the profitability of domestic cobalt refining operations [86].

7月1日，新修订的《中华人民共和国矿产资源法》(以下简称"新矿法")正式施行。作为1986年颁布以来 首次全面修订的行业基础性法律，新矿法通过市场化改革、生态修复制度化、战略性资源保障等多重举 措，为我国矿业高质量发展构建全新政策框架。在此背景下，国内矿业龙头企业西部矿业（601168）凭 借资源储备优势与战略布局能力，正迎来多重政策红利释放的关键发展期。 在矿业权保护与市场化改革方面，新法规定矿业权原则上通过招标、拍卖、挂牌等竞争性方式出让，减 少行政干预，提升市场透明度。西部矿业作为国资控股企业，凭借强大的资金实力和卓越的资源整合能 力，有望在公平竞争中获取更多优质矿业权，尤其是在其核心业务涉及的铜、铅锌等战略性矿产资源领 域，将获得更多发展契机。 在行业竞争地位强化上，西部矿业资源优势显著，公司拥有低成本铜矿和盐湖资源，新法推动的"矿业 新质生产力"发展将加速其技术升级与产业链延伸。并且，公司已开展新法专题培训，提前适应监管要 求，如动态数据库、信用管理等，在行业洗牌中占据主动地位。 值得一提的是，西部矿业的核心资产玉龙铜矿是位于西藏的超大型斑岩型矿床，资源丰富且品位较高。 随着一二选厂改扩建项目达产达 ...

2025 年 07 月 03 日 玉龙铜矿三期扩建工程核准，铜矿产量增长空间 打开 买入(维持) 事件 分析师：傅鸿浩 S1050521120004 fuhh@cfsc.com.cn 分析师：杜飞 S1050523070001 dufei2@cfsc.com.cn | 基本数据 | 2025-07-02 | | --- | --- | | 当前股价（元） | 17.37 | | 总市值（亿元） | 414 | | 总股本（百万股） | 2383 | | 流通股本（百万股） | 2383 | | 52 周价格范围（元） | 14.26-19.39 | | 日均成交额（百万元） | 551.67 | 市场表现 -30 -20 -10 0 10 20 30 (%) 西部矿业 沪深300 资料来源：Wind，华鑫证券研究 相关研究 1、《西部矿业（601168）：玉龙铜 矿完成改扩建，铜矿产量将持续增 长》2024-03-21 2、《西部矿业（601168）：玉龙铜 矿改扩建项目顺利投产，矿山持续 发力》2023-12-08 3、《西部矿业（601168）：Q3 毛利 同比环比增长，玉龙铜矿改扩建临 近投产》2023 ...

首先，昨天的高层会议指出，依法依规治理企业低价无序竞争，引导企业提升产品品质，推动落后产能 有序退出。这被市场解读为比海洋经济更为重磅的利好。 昨天（1日）是铜，今天轮到多晶硅。今日早盘，多晶硅高开之后直线拉升，涨幅一度超过5%。与此同时，光 伏概念早盘活跃，玻璃、硅料方向领涨，亚玛顿涨停，欧晶科技、通威股份、凯盛新能、大全能源、东方日升 等跟涨。 多晶硅的多头正在崛起！ 分析人士认为，多晶硅的爆发源于三重利好： 其次，昨晚，美国"大而美"法案在参议院投票通过，光伏和风电概念股在美股市场的表现非常强劲。 昨晚，美股市场的光伏和风电亦表现非常出色，太阳能跟踪系统制造商Array Technologies上涨11%，光伏巨头 SolarEdge上涨7%。据悉，新版"大而美"法案取消了对太阳能和风能项目征税的规定。 最后，有消息指出，为破除"内卷式"竞争，近日国内头部光伏玻璃企业计划自7月开始集体减产30%，预 计7月国内玻璃产量将下降至45GW左右。 多头崛起 多晶硅2508最近的多头形态逐渐成形。最近五个交易日，该品种有四天上涨，今早更是发动猛攻，高开之后直 线拉升，涨幅一度超5%。 今天，工业品期货的多头气氛 ...

Core Viewpoint - The non-ferrous metal sector has experienced significant stock price increases, particularly with North Copper rising over 7%, driven by market dynamics and external factors [1] Group 1: Stock Performance - North Copper's stock increased by over 7% during the trading session [1] - Other companies such as Jingyi Co., Zijin Mining, Western Mining, Jincheng Mining, Electric Alloy, Zhongfu Industrial, Tianshan Aluminum, and Baiyin Nonferrous also saw price increases [1] Group 2: Market Dynamics - A report from Wukuang Securities highlighted renewed discussions around U.S. copper tariffs, alongside low LME (London Metal Exchange) inventory levels leading to warehouse congestion [1] - The LME copper prices have broken through their previous trading range and are showing a strong upward trend [1] Group 3: Future Outlook - The market is advised to monitor the results and implementation timeline of the Section 232 investigation, as copper prices are expected to rise ahead of any potential tariff imposition [1]

Core Viewpoint - Western Mining has made significant progress with its copper mining project, receiving approval for the Yulong Copper Mine Phase III project, which will increase production capacity from 1,989 million tons/year to 3,000 million tons/year with a total investment of 4.793 billion yuan [1][3]. Group 1: Project Development - The Yulong Copper Mine Phase III project will include the construction of a new 1,100 million tons/year concentrator and increase the hydrometallurgical capacity from 300,000 tons/year to 1,000,000 tons/year [3]. - The project is expected to yield 180,000 to 200,000 tons of copper metal annually, enhancing the company's overall copper production capacity and profitability [3]. Group 2: Financial Performance - The company's revenue is projected to exceed 50 billion yuan for the first time in 2024, with a 50.74% year-on-year increase in Q1 2025, reaching 16.542 billion yuan [2][6]. - The net profit attributable to shareholders for Q1 2025 was 808 million yuan, reflecting a 9.61% year-on-year growth [6]. - The company's operating cash flow net amount increased by 423.69% year-on-year, indicating strong cash generation capabilities [6]. Group 3: Resource and Production Capacity - Western Mining's total capacity for smelting copper, lead, and zinc is 750,000 tons/year, with lead and zinc production expected to reach 161,000 tons in 2024 [2][4]. - The company holds a total iron ore resource of 288 million tons, with iron concentrate production projected to be 1.3769 million tons in 2024 [4]. Group 4: Research and Development - The company has been increasing its R&D expenditures, which rose from 153 million yuan in 2020 to 621 million yuan in 2024, with a 58.04% increase in Q1 2025 [7].