Di Yi Cai Jing·2025-12-08 00:44Group 1 - The article highlights the increasing uncertainty in global macroeconomics and geopolitical factors since the fourth quarter, emphasizing the investment value of strategic mineral resources in terms of security and price elasticity [1] - Based on the current supply-demand dynamics, policy directions, and industry trends, the long-term investment logic for copper, aluminum, and gold is clear [1] - Copper benefits from tight supply at the mining level and demand driven by the green economy; aluminum is constrained by domestic capacity ceilings but benefits from lightweight and green electricity demand; gold possesses unique attributes for hedging against risks and inflation [1] Group 2 - Investment strategies should focus on three main lines: first, supply rigidity, paying attention to varieties significantly constrained by resource limitations and capacity policies [1] - Second, green demand, capturing structural growth brought by energy transition in sectors like new energy vehicles and photovoltaic wind power [1] - Third, financial attributes, utilizing changes in liquidity expectations to allocate to safe-haven assets [1]