中美和谈在即，看好工业金属机会

Copper Market Overview - LME copper price increased by 3.17% to $10,947.00 per ton, while Shanghai copper rose by 3.95% to ¥87,700 per ton [1] - Import copper concentrate processing fee index dropped to -$42.7 per ton, indicating supply pressure [1] - National copper inventory increased by 0.5 million tons to 181.6 thousand tons, primarily due to lower import and domestic supply [1] - The operating rate of waste anode plate enterprises rose to 57.7%, with a slight expected decrease next week [1] - Domestic copper wire and cable enterprises' operating rate was 62.34%, showing a minor increase but overall demand remains weak [1] Aluminum Market Overview - LME aluminum price rose by 2.75% to $2,856.50 per ton, while Shanghai aluminum increased by 1.51% to ¥21,200 per ton [2] - Domestic electrolytic aluminum ingot inventory decreased by 0.7 million tons, indicating a slight reduction in supply [2] - Despite high operational capacity in alumina production, the overall supply remains excessive, leading to expectations of continued price declines [2] - The operating rate of downstream aluminum processing enterprises recorded at 62.4%, showing stability but with internal differentiation [2] Gold Market Overview - COMEX gold price decreased by 5.66% to $4,126.9 per ounce, influenced by U.S. government shutdown and geopolitical risks [3] - SPDR gold holdings decreased by 11.73 tons to 1,046.93 tons, reflecting market sentiment [3] - The U.S. government shutdown has disrupted key economic data, complicating the Federal Reserve's decision-making process [3] Rare Earth Market Overview - Praseodymium-neodymium oxide price decreased by 1.35%, aligning with previous expectations of price fluctuations [4] - The outlook for overseas replenishment is positive, with potential price increases anticipated [4] - The strategic importance of rare earths is highlighted, with a bullish view on companies like China Rare Earth, Guangxi Chaozhou, and others [4] Lithium and Cobalt Market Overview - Carbonate lithium price increased by 1.97% to ¥74,500 per ton, while hydroxide lithium rose by 0.15% to ¥78,300 per ton [5] - Cobalt prices surged by 7% to ¥407,500 per ton, indicating strong demand in the market [5] - Nickel prices saw a slight increase, with LME nickel price at $15,300 per ton [5]