Jin Rong Jie·2025-12-22 06:09Group 1: Precious Metals - The precious metals sector is experiencing strong upward momentum driven by expectations of interest rate cuts and rising risk aversion due to geopolitical uncertainties [1] - Recent performance shows spot gold and silver prices reaching new highs, with platinum and palladium futures seeing significant daily gains, particularly platinum prices exceeding 800 yuan per gram [1] - Major economies are adjusting monetary policies, with the Bank of Japan raising rates by 25 basis points to 0.75%, while the Bank of England cut rates by 25 basis points to 3.75%, reinforcing expectations of a global monetary easing cycle [1] Group 2: Industrial Metals - The industrial metals sector benefits from dual support of global monetary easing expectations and domestic growth stabilization policies, with U.S. inflation data reinforcing these expectations [1] - The copper supply chain is tightening, as evidenced by a significant drop in processing fees for copper concentrate, reflecting a constrained supply environment [1] - The aluminum sector shows a mixed supply-demand dynamic, with slight increases in supply but weakening demand, leading to a notable rise in social inventory levels [1] Group 3: New Energy Metals and Minor Metals - The lithium carbonate market is currently in a phase of tight supply and demand, with prices expected to remain volatile at high levels due to ongoing inventory depletion [2] - The rare earth sector has a clear long-term outlook, driven by export controls that enhance China's pricing power in the global market, which is expected to boost industry profitability and valuation [2]