Group 1 - Precious metals sector continues to surge, with notable performances from companies such as Zhaojin Gold (000506) achieving three consecutive trading limits in six days [1] - Sichuan Gold (001337) has reached four trading limits in eight days, indicating strong market interest [1] - Other companies like Xingye Silver Tin (000426), Hunan Gold (002155), Shengda Resources (000603), Hunan Silver (002716), and Yuguang Gold Lead (600531) also hit trading limits, reflecting a broad rally in the sector [1] Group 2 - Xiaocheng Technology (300139) saw a significant increase of over 15%, reaching a new high, showcasing investor confidence [1] - Shanjin International (000975) followed the upward trend, indicating a positive sentiment across the precious metals industry [1]

| 有品 队汀 | | | | | | --- | --- | --- | --- | --- | | 全部 | 龙头股 | 3日内有涨停 | 连板 | 连转 | | 名称/代码 | | 最新 ◆ | 涨幅 ◆ | 5日活 | | 湖南黄金 | | | 25.27 +10.01% +16. | | | 002155 | | | | | | 首板 最终涨停09:25 黄金开采 黄金加工 | | | | | | 兴业银锡 | | | 63.67 +10.00% +26. | | | 000426 | | | | | | 首板 最终涨停09:33 | | 黄金加工 | | | | 盛达资源 | | 56.65 | +10.00% | +40. | | 000603 | | | | | | 2天2板 | 最终涨停09:30 | | | | | 福达合金 | | 28.93 | +10.00% | +20. | | 603045 | | | | | | 首板 | 最终涨停09:25 | 黄金回收 | | | | 豫光金铅 | | 18.63 | +9.98% | +35 | | 600531 | | | | | | つ ...

声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 2026年1月26日，兴业银锡（sz000426）触及涨停，涨停价63.67元，涨幅10%，总市值1130.55亿元，流 通市值1130.27亿元，截止发稿，总成交额14.40亿元。 根据喜娜AI异动分析，兴业银锡涨停原因可能如下，资源并购+业绩增长+控股股东重整： 1、公司完成 对宇邦矿业85%股权和大西洋锡业100%股权收购，增强了资源储备，国际化资源布局稳步推进。这有 助于提升公司的长期竞争力和可持续发展能力，为未来业绩增长奠定基础。 2、2025年1 - 9月公司营收 40.99亿元，同比增长24.36%，净利润13.64亿元，同比增长4.94%，三季度业绩实现稳健增长。经营活 动现金流净额2 ...

行情数据显示，现货白银涨超7%,最高报约103美元/盎司。现货黄金一度上涨1%,最高报约4988美元/盎 司。伦铜一度上涨3.4%,达到13187.50美元/吨,接近本月早些时候创下的历史新高。伦锡上涨9.5%。伦镍 上涨4.2%。 西南证券金属研究团队建议把握四条主线:一是分母端扩张:黄金中长期看多方向较一致,把握交易节奏, 主要关注美联储降息预期和贸易战边际变化。金银比价较高,带来白银上涨动能较大,白银标的也应重点 关注。二是分子端改善:2025年氧化铝下跌带来电解铝单位盈利明显改善,吨铝盈利或将继续维持较高位 置,但是也应警惕短期需求走弱带来的价格回落,铜铝都是如此。三是稀土等关键优势矿产,稀土、锑、钨 板块或有更好表现。四是反内卷带来供给侧的扰动机会,碳酸锂板块周期反转。 公司方面，据上证报表示， *免责声明：文章内容仅供参考，不构成投资建议 *风险提示：股市有风险，入市需谨慎 山东黄金：公司持续增储扩产,2023年以来进行了多项股权和探矿权收购,大幅增加了公司的资源储备。 兴业银锡：旗下银漫矿业为国内最大的白银生产矿山之一,锡精矿产量全国排名第二位,宇邦矿业单体银 矿储量排名位列亚洲第一位。 ...

Group 1: Copper - The LME copper price increased by 0.25% to $12,840.0 per ton, while the Shanghai copper price rose by 0.57% to ¥101,300 per ton [1] - Copper concentrate processing fees fell to -$49.79 per ton, and national copper inventory increased by 2.9% week-on-week, with a year-on-year increase of 203,000 tons [1][13] - The operating rate of copper cable enterprises increased by 2.72 percentage points to 58.71%, with a year-on-year increase of 15.87% [1][13] Group 2: Aluminum - The LME aluminum price rose by 0.29% to $3,137.5 per ton, and the Shanghai aluminum price increased by 1.53% to ¥24,300 per ton [2][14] - The operating rate of domestic aluminum processing enterprises fell by 6.3 percentage points to 51.1% due to the upcoming Spring Festival [2][14] - Electrolytic aluminum ingot inventory decreased by 6,000 tons to 743,000 tons [2][14] Group 3: Gold - COMEX gold price increased by 6.88% to $4,938.4 per ounce, with SPDR gold holdings rising by 4.86 tons to 1,079.66 tons [3][15] - Geopolitical risks have led to a strong fluctuation in the gold market [3][15] - The 10-year TIPS yield decreased by 0.07 percentage points to 1.95% [3][15] Group 4: Rare Earths - The price of praseodymium and neodymium oxide decreased by 0.25% to ¥672,700 per ton [4][36] - December exports of rare earth permanent magnets increased by 7% year-on-year, indicating a recovery in exports [4][36] - The rare earth sector is expected to see upward price momentum due to supply constraints and favorable export conditions [4][36] Group 5: Tungsten - Tungsten prices increased by 5.54% this week, supported by tight supply conditions [4][38] - The establishment of a $2.5 billion "strategic resilience reserve" in the U.S. may elevate tungsten's priority [4][38] - The price of ammonium paratungstate rose by 6.06% to ¥790,500 per ton [4][38] Group 6: Tin - Tin prices increased by 2.19% to ¥423,700 per ton, with inventory rising by 1.79% to 9,720 tons [4][38] - Supply from Indonesia and Myanmar remains below expectations, supporting an upward price trend [4][38] - The demand outlook is positive due to recovery in semiconductor and photovoltaic sectors [4][38] Group 7: Lithium - The average price of lithium carbonate rose by 0.8% to ¥159,500 per ton, while lithium hydroxide increased by 2.0% to ¥156,900 per ton [4][63] - Lithium production decreased slightly, with total output at 22,200 tons, down by 40 tons [4][63] - The market is experiencing strong demand, with signs of pre-holiday stocking [4][63] Group 8: Cobalt - Cobalt prices decreased by 3.7% to ¥437,000 per ton, while cobalt intermediate prices increased by 1.5% to $25.75 per pound [5][65] - Supply tightness is expected to persist, with domestic prices showing upward momentum [5][65] - The market structure remains tight due to limited liquidity and long transportation cycles [5][65]

Investment Rating - The investment rating for the small metals industry is "Positive" (maintained) [5] Core Views - The supply-demand tension continues, with tungsten and tin prices breaking historical highs [4] - Rare earth elements are experiencing a supply tightness, leading to increased prices, particularly for praseodymium and neodymium oxide, which rose by 7.69% to 672,500 CNY/ton [12] - Molybdenum prices are expected to stabilize due to cost support and improved supply-demand dynamics, despite a recent decline [23] - Tungsten prices are at historical highs due to supply contraction and price increases in long-term contracts [30] - Tin prices are strong due to macroeconomic factors and ongoing supply disruptions, with SHFE tin rising by 21.85% to 429,600 CNY/ton [33] - Antimony prices are fluctuating, awaiting signals for export recovery, with recent increases noted [42] Summary by Sections Rare Earths - Praseodymium and neodymium oxide prices increased by 7.69% to 672,500 CNY/ton, while dysprosium decreased by 1.39% to 1,420,000 CNY/ton [12][4] - The supply side remains tight due to policy and supply constraints, while demand from downstream magnetic material companies has shifted from just-in-time purchasing to stockpiling [4] Molybdenum - Molybdenum concentrate prices fell by 1.94% to 4,035 CNY/ton, and molybdenum iron prices decreased by 1.90% to 258,500 CNY/ton [23] - The market sentiment is supported by a stabilization in international molybdenum oxide prices and reduced mine shipments [23] Tungsten - Black tungsten concentrate prices rose by 11.43% to 536,000 CNY/ton, and ammonium paratungstate prices increased by 12.06% to 790,000 CNY/ton [30] - Supply is tightening due to reduced mining quotas and slower production rates, while domestic demand remains stable [30] Tin - SHFE tin prices increased by 21.85% to 429,600 CNY/ton, and LME tin prices rose by 21.73% to 54,200 USD/ton [33] - Supply disruptions from key mining regions and strong demand from traditional and emerging sectors are driving price increases [33] Antimony - Antimony ingot prices rose by 1.26% to 160,500 CNY/ton, and antimony concentrate prices increased by 1.42% to 142,500 CNY/ton [42] - The supply remains tight, and demand is expected to decline as the market approaches the Lunar New Year [42]

Core Insights - The report highlights a bullish outlook for the metals sector, driven by macroeconomic factors such as the Federal Reserve's interest rate cuts and a recovering global economy, particularly in China [3][44] - Key investment themes for 2026 include expanding demand for precious metals like gold and silver, improving fundamentals for aluminum and copper, strategic opportunities in rare earths, and supply-side disruptions due to overcapacity in certain sectors [3][4] Group 1: Precious Metals - The report suggests a long-term bullish view on gold, with expectations of price increases driven by anticipated interest rate cuts and geopolitical tensions, which enhance gold's appeal as a safe-haven asset [3][44] - Silver is also highlighted as a key investment opportunity due to its high price ratio to gold, indicating potential for significant price appreciation [3] - Specific companies to watch include Shandong Gold (600547.SH) and Zijin Mining (601899.SH), which are expected to benefit from increased production and operational efficiencies [4] Group 2: Industrial Metals - The report notes that aluminum and copper are set to see improved profitability due to lower production costs and increased demand, particularly in the context of infrastructure investments [3][4] - Companies such as Zhongfu Industrial (600595.SH) and Zijin Mining (601899.SH) are identified as having strong positions in the copper market, with expected profit growth [4] - The report emphasizes the importance of monitoring supply chain dynamics, particularly in copper, where inventory levels are shifting significantly [18][58] Group 3: Rare Earths and Strategic Metals - The report identifies rare earth elements as a critical area for investment, particularly in light of geopolitical tensions between the US and China, which may create opportunities for companies involved in rare earth mining and processing [3][4] - Companies like Northern Rare Earth (600111.SH) and China Rare Earth (000831.SZ) are highlighted for their potential to benefit from price increases in rare earth materials [4] Group 4: Energy Metals - The report discusses the rebound in lithium and nickel prices, driven by strong demand from the battery sector, with specific mention of companies like Tianqi Lithium (002466.SZ) and Ganfeng Lithium (002460.SZ) [4][27] - The expected growth in energy storage solutions is also noted as a significant driver for demand in these metals [4] Group 5: Overall Market Performance - The overall performance of the non-ferrous metals sector is noted to have outperformed the broader market, with a cumulative increase of 96.46% in 2025 compared to a 21.65% increase in the Shanghai Composite Index [33][35] - The report indicates that while the sector has seen significant gains, valuations are currently at historical averages, suggesting potential for further growth [35]

资金流入比率方面，锌业股份、豫光金铅、大中矿业等流入比率居前，主力资金净流入率分别为 21.75%、19.31%、15.50%。 金属锌概念资金流入榜 | 代码 | 简称 | 今日涨跌幅 | 今日换手率 | 主力资金流量（万 | 主力资金净流入比率 | | --- | --- | --- | --- | --- | --- | | | | （%） | （%） | 元） | （%） | | 600531 | 豫光金 铅 | 10.00 | 11.05 | 42903.40 | 19.31 | | 001203 | 大中矿 业 | 9.99 | 4.35 | 28426.91 | 15.50 | | 000060 | 中金岭 南 | 7.15 | 8.11 | 27271.51 | 9.90 | | 000751 | 锌业股 份 | 10.00 | 15.09 | 25606.68 | 21.75 | | 000603 | 盛达资 源 | 10.00 | 5.95 | 24935.21 | 12.46 | | 000426 | 兴业银 锡 | 9.91 | 5.12 | 16620.44 | 3.26 | | 6 ...

证券之星消息，1月23日工业金属板块较上一交易日上涨2.29%，银邦股份领涨。当日上证指数报收于 4136.16，上涨0.33%。深证成指报收于14439.66，上涨0.79%。工业金属板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300337 | 银邦股份 | 17.87 | 13.46% | 155.99万 | | 27.01亿 | | 601702 | 华峰铝业 | 23.09 | 10.00% | 21.94万 | | 4.87 C | | 600531 | 豫光金铅 | 16.94 | 10.00% | 133.67万 | | 22.22亿 | | 000751 | 锌业股份 | 5.72 | 10.00% | 212.69万 | | 11.77亿 | | 003038 | 整铂股份 | 18.81 | 10.00% | 19.37万 | | 3.48亿 | | 000603 | 盛达资源 | 51.50 | 10.00% | 39.67万 | ...

兴业银锡 据悉考虑首次发行美元债券。 ...