CHALCO(SH:601600) Jin Rong Jie·2026-01-05 02:35Group 1 - Commodity prices continue to rise, with spot silver surpassing $76 per ounce, increasing over 4% in a single day [1] - The main contract for aluminum on the Shanghai Futures Exchange (SHFE) opened higher and has seen an increase of over 4%, reaching the highest level since October 2021 [1] - Precious metals and industrial metals both experienced significant gains, with Hunan Silver rising over 9% and companies like China Aluminum, Xinyi Silver, and Western Gold also seeing increases [1] Group 2 - Geopolitical tensions have heightened market risk aversion, providing support for precious metal prices [2] - Recent adjustments in trading rules and economic data expectations have led to increased volatility in gold and silver prices [2] - Industrial metals like copper and aluminum maintain a strong performance, with SHFE aluminum rising 2.32% last week despite a 0.49% decline in copper [2][3] Group 3 - Bloomberg Commodity Index will undergo adjustments starting January 8, which may temporarily suppress precious metal prices due to potential sell-offs by passive tracking funds [4] - Long-term outlook remains positive for precious metals, with expectations of continued upward trends led by silver [4] - The copper and aluminum sectors are anticipated to see increased investment as they are viewed as undervalued, with a potential spring rally expected [4]