Core Views - The report emphasizes that the metal industry is expected to see a rise in prices and profitability due to supply-demand dynamics and interest rate cuts, with a focus on industrial metals like copper and aluminum [5][6][10]. Industrial Metals - Copper prices are projected to rise as the global copper market faces a supply shortage of approximately 1% in 2026 and 0.5% in 2027, primarily due to the anticipated recovery of the Grasberg and Panama copper mines [5][23]. - The report notes that the Grasberg copper mine's production cut has led to a significant upward adjustment in copper price expectations, with a potential price increase from 79,000 CNY/ton to 82,000-83,000 CNY/ton [21][24]. - Aluminum profitability is expected to increase further, with China's electrolytic aluminum capacity utilization reaching 98%, indicating a tight supply-demand balance that could lead to price surges if demand exceeds expectations [5][30]. Precious Metals - The long-term outlook for gold remains positive, driven by factors such as weakening U.S. non-farm data, manageable inflation, and a dovish stance from the Federal Reserve, which is expected to lower interest rates further [6][10]. Energy Metals - Cobalt prices are anticipated to rise due to policy changes in the Democratic Republic of Congo, which has implemented an export quota system that could create a supply-demand gap of over 10% in the global cobalt market [7]. - The lithium industry is expected to enter a new growth cycle, with demand for energy storage batteries significantly exceeding previous forecasts, leading to a potential supply shortage if production does not keep pace [8]. Minor Metals - The strategic importance of rare earth metals is highlighted, with China maintaining a dominant position in global production and supply, which is expected to strengthen prices further [10]. - Tungsten prices may rise due to recovering overseas demand and relaxed export controls, while antimony prices are also expected to increase following recent export policy adjustments [11][12]. Uranium - The demand for uranium is projected to increase alongside the growth of nuclear power generation in China, with expectations of a significant rise in nuclear capacity by 2035 [13]. Recommended Stocks - The report suggests a selection of stocks across various metal sectors, including copper, aluminum, precious metals, energy metals, and minor metals, indicating a diversified investment strategy [14].

Core Viewpoint - Luoyang Molybdenum Co., Ltd. has seen significant trading activity, with a notable block trade on November 13, indicating investor interest and potential market movements [2][3]. Group 1: Trading Activity - On November 13, a block trade of 240,000 shares was executed at a transaction value of 4.0416 million yuan, with a trading price of 16.84 yuan per share [2][3]. - The buyer was Guotai Junan Securities Co., Ltd. headquarters, while the seller was Huatai Securities Co., Ltd. Beijing West Third Ring International Financial Center [2][3]. - In the last three months, Luoyang Molybdenum has recorded a total of 8 block trades, amounting to 354 million yuan [2]. Group 2: Stock Performance - The closing price of Luoyang Molybdenum on the day of the block trade was 16.84 yuan, reflecting a 4.73% increase [2]. - The stock had a turnover rate of 1.75% and a total trading volume of 5.123 billion yuan for the day, with a net inflow of 349 million yuan in main capital [2]. - Over the past five days, the stock has increased by 1.63%, although there was a net outflow of 205 million yuan during the same period [2]. Group 3: Financing Data - The latest margin financing balance for Luoyang Molybdenum is 3.573 billion yuan, which has increased by 127 million yuan, representing a growth of 3.68% over the past five days [3]. - Luoyang Molybdenum was established on December 22, 1999, with a registered capital of 4.2788620352 billion yuan [3].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 以下為洛陽欒川鉬業集團股份有限公司（「本公司」）於上海證券交易所網站 (www.sse.com.cn )所發佈《洛陽欒川鉬業集團股份有限公司關於對外擔保計劃的公 告》。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：03993） 海外監管公告 承董事會命 洛陽欒川鉬業集團股份有限公司 劉建鋒 董事長 中華人民共和國河南省洛陽市， 二零二五年十一月十三日 於本公告日期，執行董事為劉建鋒先生及闕朝陽先生；非執行董事為林 久新先生及蔣理先生；及獨立非執行董事為王開國先生、顧紅雨女士及 程鈺先生。 * 僅供識別 股票代码：603993 股票简称：洛阳钼业 编号：2025—057 CMOC Group Limited* 二、担保计划执行情况 公司于2025年6月14日、2025年7月11日、2025年8月16日、2025 年10月1 ...

Core Viewpoint - The domestic market is increasingly recognizing the valuation of precious metals and non-ferrous resource stocks, with significant inflows of capital driving a strong upward trend in related assets [1][5]. Group 1: Market Performance - On November 13, 2023, the A-share market saw a comprehensive surge in precious metals and non-ferrous metals, with gold stocks ETF (159562) rising by 3.07% and non-ferrous metals ETF (516650) increasing by 4.06%, significantly outperforming the market [1]. - As of the close on November 13, domestic gold and silver futures rose by 1.56% and 5.48%, respectively, with silver reaching a historical high of 12,588 yuan per kilogram [4]. - The lithium metal sector led the A-share market with a 7.03% increase, while other non-ferrous metals like lead, zinc, nickel, and cobalt also saw gains of over 4% [6]. Group 2: Economic Drivers - The recent bullish trend in resource metals is supported by a favorable international macroeconomic environment, domestic policies, and industry factors, including the ongoing geopolitical tensions and the U.S. trade protectionism [11][12]. - The World Gold Council reported that 95% of surveyed central banks plan to increase their gold holdings in the next 12 months, indicating a strong demand for gold as a "super-sovereign currency" [12]. Group 3: Sector Growth - The lithium battery sector has experienced explosive growth, with domestic sales of new energy vehicles reaching 11.196 million units in the first three quarters of 2025, a year-on-year increase of 34.55% [16]. - The copper market is projected to face a supply shortage, with demand expected to reach 27.29 million tons by 2025, while supply growth lags behind at only 1.1% [17]. - The aluminum sector is characterized by China's dominance, accounting for over 60% of global production and consumption, which provides a significant cost advantage for Chinese aluminum companies [18]. Group 4: Investment Opportunities - The non-ferrous metals ETF (516650) has seen a substantial inflow of funds, with a net inflow of 1.755 billion yuan from August 14 to October 17, 2023, and a year-to-date share increase of 900.76% [24]. - The gold stock ETF (159562) has also performed well, with a year-to-date increase of 86.98%, benefiting from the rising gold prices and favorable tax policies for virtual gold investments [26]. - The overall performance of the non-ferrous metals sector has been outstanding, with 60 out of 90 non-ferrous concept stocks in the A-share market rising over 50% this year [19].

Core Viewpoint - The non-ferrous metal sector has seen a significant influx of over 17.7 billion in main capital, ranking second among 31 primary industries in the Shenwan classification, with leading companies like Huayou Cobalt and Tianqi Lithium attracting substantial net inflows [1][3] Group 1: Market Performance - The non-ferrous metal sector has outperformed other industries, with a year-to-date increase of 75.9%, surpassing telecommunications (61.88%), electronics (48.1%), and power equipment (45.12%) [4][5] - Among the 60 constituent stocks of the Non-Ferrous Metal Leader ETF, 41 stocks rose over 2%, with five stocks hitting the daily limit up, and significant gains observed in Tianqi Lithium and Zhongmin Resources [3][5] Group 2: Investment Drivers - The strong performance is attributed to several factors: 1. Financial results show that 56 out of 60 companies in the Non-Ferrous Metal Leader ETF reported profits, with 44 companies experiencing year-on-year growth in net profit [5] 2. The current bull market is driven by demand from emerging sectors such as new energy, AI, and aerospace, alongside supply-side disruptions that highlight the scarcity and strategic value of metals [5] 3. Policy support from the government, including a joint plan to stabilize growth in the non-ferrous metal industry, is expected to enhance the sector's performance [5] Group 3: Future Outlook - Analysts predict that the non-ferrous metal sector will continue to thrive, with expectations of a new cycle driven by supply-demand balance and global monetary easing [6][5] - The investment interest in commodities is likely to persist, with anticipated price increases for copper and cobalt due to supply constraints and rising demand for lithium driven by energy storage needs [6]

Core Viewpoint - The domestic market is increasingly recognizing the valuation of precious metals and non-ferrous resource stocks, with significant inflows of capital driving a strong upward trend in related assets [1][5]. Group 1: Market Performance - On November 13, 2023, the A-share market saw a comprehensive surge in precious metals and non-ferrous metals, with gold stocks ETF (159562) rising by 3.07% and non-ferrous metals ETF (516650) increasing by 4.06%, significantly outperforming the market [1]. - As of the close on November 13, domestic gold and silver futures saw substantial increases of 1.56% and 5.48%, respectively, with silver prices reaching a historical high of 12,588 yuan per kilogram [4]. - The lithium metal sector led the A-share market with a remarkable increase of 7.03%, while other non-ferrous metals like lead, zinc, nickel, and cobalt also saw gains of over 4% [6]. Group 2: Economic Drivers - The recent bullish trend in resource metals is supported by various macroeconomic factors, including the end of the U.S. government shutdown, which has renewed hopes for a Federal Reserve rate cut in December [2][11]. - The ongoing geopolitical tensions, particularly since the onset of the Russia-Ukraine conflict, have heightened global risk aversion, driving investments into gold as a safe-haven asset [11][12]. - Central banks worldwide, including China, are increasing their gold reserves, with China's gold reserves reaching approximately 2,304.457 tons as of the end of October, marking a continuous increase for 12 months [12]. Group 3: Sector Growth - The lithium battery sector has seen explosive growth, with domestic sales of new energy vehicles reaching 11.196 million units in the first three quarters of 2025, a year-on-year increase of 34.55% [16]. - The demand for lithium is further fueled by the rise of energy storage solutions, with domestic lithium battery shipments nearly doubling year-on-year [16]. - The copper market is expected to face a supply shortage by 2025, with demand projected to reach 27.29 million tons, while supply growth lags behind at only 1.1% [17]. Group 4: Investment Opportunities - The non-ferrous metals ETF (516650) has seen significant inflows, with a net inflow of 1.755 billion yuan from August 14 to October 17, 2023, and a year-to-date share increase of 900.76% [24]. - The gold stocks ETF (159562) has also performed well, with a year-to-date increase of 86.98%, benefiting from the rising gold prices and favorable tax policies for virtual gold investments [26]. - Major non-ferrous metal companies, including Zijin Mining and Ganfeng Lithium, have experienced substantial stock price increases, with many achieving over 50% gains this year [19][21].

11月13日，洛阳钼业大宗交易成交24万股，成交额404.16万元，占当日总成交额的0.08%，成交价16.84元，较市场收盘价16.84元持平。 | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | | 2025-11-13 | 洛阳铝业 | 603993 | 16.84 404.16 | 24 | 国泰海通证券股份 有限公司总部 | 华泰证券股份有限 公司北京两三环国 | ...

Group 1 - The phosphate chemical concept index rose by 4.25%, ranking fifth among concept sectors, with 51 stocks increasing in value [1][2] - Notable gainers included Taihe Technology, which hit the daily limit up at 20%, and Hunan Yuno, Fulin Precision, and Anda Technology, which rose by 13.32%, 11.11%, and 10.50% respectively [1][2] - The sector saw a net inflow of 2.563 billion yuan from main funds, with 34 stocks receiving net inflows, and 8 stocks exceeding 100 million yuan in net inflow [2][3] Group 2 - The leading stock in terms of net inflow was Huayou Cobalt, with a net inflow of 509 million yuan, followed by Fulin Precision, Luoyang Molybdenum, and Hebang Bio, with net inflows of 387 million yuan, 349 million yuan, and 291 million yuan respectively [2][3] - The stocks with the highest net inflow ratios included Hebang Bio, Weiling Co., and Taihe Technology, with net inflow ratios of 17.01%, 12.79%, and 12.68% respectively [3][4] - The overall market performance showed a mixed trend, with some stocks like Wansheng Co. and Jiankong Repair experiencing declines of 1.72% and 0.14% respectively [1][5]

Group 1 - The metal nickel concept increased by 3.93%, ranking 9th among concept sectors, with 38 stocks rising, including Xinyi Silver Tin and Shengtun Mining reaching the daily limit [1] - The top gainers in the metal nickel sector included ST Hezhong, Huayou Cobalt, and Shengda Resources, which rose by 9.29%, 8.04%, and 7.97% respectively [1] - The metal nickel sector saw a net inflow of 2.613 billion yuan, with 28 stocks receiving net inflows, and 7 stocks exceeding 100 million yuan in net inflow [1] Group 2 - The leading stocks in terms of net inflow ratio were Shengtun Mining, China First Heavy Industries, and Xinyi Silver Tin, with net inflow ratios of 20.05%, 17.29%, and 16.07% respectively [2] - Shengtun Mining had the highest net inflow of 610.47 million yuan, followed by Xinyi Silver Tin with 563.44 million yuan, and Huayou Cobalt with 509.07 million yuan [2] - The trading volume and turnover rates for the top stocks in the metal nickel sector were significant, indicating strong investor interest [2][3]

2025年5月30日，公司2024年年度股东大会审议通过《关于本公 股票代码：603993 股票简称：洛阳钼业 编号：2025—057 洛阳栾川钼业集团股份有限公司 关于对外担保计划的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 重要内容提示： 一、担保审批及授权情况 上述担保事项是基于目前业务情况的预计，根据可能的变化，在本次担保计划总额度的范围内，全资子公司成 员间的担保额度可以相互调剂，但在调剂发生时，对于资产负债率超过70%的担保对象，仅能从资产负债率超过70% 的担保对象处获得担保额度。本次担保均系为全资子公司提供担保，不涉及其他股东提供等比例担保的情形。 被担保方：相关全资子公司 本次担保金额：洛阳栾川钼业集团股份有限公司（以下简称"公 司"）直接或通过全资子公司（含直接及间接全资子公司，下同） 为其他全资子公司合计提供总额预计不超过101亿元的担保。 本次担保不涉及反担保。 截至本公告披露日公司无逾期担保。 本次担保计划部分被担保方为资产负债率超过70%的全资子公司； 截至本公告披露日，公司对外担保总额 ...