Zhong Guo Neng Yuan Wang·2026-01-21 02:15Group 1: Key Insights on Precious Metals - The upward momentum for precious metals, particularly gold, is strong, with London gold prices reaching $4,611.05 per ounce, an increase of $117.20 per ounce from the previous week, reflecting a rise of 2.59% [2] - The market is closely monitoring the Federal Reserve's upcoming meeting, with a 95% probability of a 25 basis point rate cut anticipated in January [2][3] Group 2: Key Insights on Copper and Aluminum - Copper prices are experiencing high-level consolidation, with LME copper closing at $12,925 per ton, down $65 per ton, a decrease of 0.50% [4] - Domestic copper inventory is reported at 213,515 tons, showing an increase of 4,600 tons from January 9, while SHFE inventory also reflects a similar trend [4] - Aluminum prices are at 24,000 yuan per ton, down 60 yuan, with LME aluminum inventory at 488,000 tons, a decrease of 9,825 tons [6] Group 3: Key Insights on Tin and Antimony - Domestic refined tin prices are at 41,4640 yuan per ton, up 639.40 yuan per ton, indicating a positive trend [8] - Antimony prices have rebounded, with domestic antimony ingot prices increasing by 0.2 million yuan per ton from January 9 [10] Group 4: Investment Ratings and Recommendations - The copper industry maintains a "recommended" investment rating due to ongoing tightness in copper supply [13] - The aluminum industry also holds a "recommended" investment rating, supported by rigid supply dynamics [14] - The tin industry is rated "recommended" as supply constraints are expected to support tin prices [14] - The antimony industry is rated "recommended" following a rebound in prices after a six-month decline [14] Group 5: Stock Recommendations - Recommended stocks in the gold sector include Zhongjin Gold (600489), Shandong Gold (600547), and China National Gold (600916) [15] - In the copper sector, recommended stocks include Zijin Mining (601899) and Western Mining (601168) [15] - For aluminum, recommended stocks are Shenhuo Co. (000933) and Yunnan Aluminum (000807) [15] - In the tin sector, recommended stocks include Tin Industry Co. (000960) and Hunan Gold (002155) [15]