Zhong Guo Neng Yuan Wang·2026-02-10 12:54Core Viewpoint - Precious metals, particularly gold and silver, have seen further declines in prices, but the Federal Reserve's anticipated interest rate cuts this year are expected to support precious metal prices moving forward [2][3]. Precious Metals - Gold price this week was $4,948.00 per ounce, down $33.85 from January 30, a decrease of -0.68% [2]. - Silver price this week was $74.94 per ounce, down $28.25 from January 30, a decrease of -27.38% [2]. - The Federal Reserve officials have expressed views on the need for interest rate cuts this year, with expectations of multiple cuts [2]. Copper and Aluminum - Demand weakened as the Chinese New Year approaches, leading to stable prices for copper and aluminum [4][6]. - LME copper closed at $12,900 per ton, down $540 from January 30, a decrease of -4.02% [4]. - SHFE copper closed at ¥99,810 per ton, down ¥3,360 from January 30, a decrease of -3.26% [4]. - Domestic aluminum price was ¥23,110 per ton, down ¥1,530 from January 30 [5]. Tin - Domestic refined tin price was ¥356,660 per ton, down ¥66,970 from January 30, a decrease of -15.81% [7]. - Inventory levels indicate a tightening supply situation, but short-term demand remains weak [7]. Antimony - Domestic antimony ingot price was ¥160,000 per ton, unchanged from January 30 [8]. - Demand feedback is average, and prices are expected to remain stable [8]. Industry Ratings and Investment Strategy - Gold industry maintains a "recommended" investment rating due to the Fed's rate cut cycle [9]. - Copper industry also maintains a "recommended" investment rating due to ongoing tight supply [10]. - Aluminum, tin, and antimony industries maintain "recommended" investment ratings based on supply dynamics [11]. Recommended Stocks - Gold industry recommendations include Zhongjin Gold, Shandong Gold, and China National Gold [12]. - Copper industry recommendations include Zijin Mining and Western Mining [12]. - Aluminum industry recommendations include Shenhuo Co. and Yunnan Aluminum [12]. - Tin industry recommendations include Tin Industry Co. and Huaxi Nonferrous [12].