有色行业周报：工业金属价格震荡，静待逆周期调控政策发力

Investment Rating - The report rates the non-ferrous metal industry as "Positive" [1] Core Viewpoints - The report highlights that industrial metal prices are fluctuating, with a focus on the anticipated impact of counter-cyclical regulatory policies [3] - Copper prices have slightly declined, with expectations for gradual recovery in domestic demand [4] - Lithium carbonate prices have increased slightly, while inventory levels have decreased [5] - Magnesium prices have seen a slight increase, but downstream demand remains weak [6] - Gold prices may face short-term pressure due to higher-than-expected U.S. inflation data [7] Summary by Sections 1. Non-Ferrous Sector Overview - The overall market declined by 3.56% during the week, with the non-ferrous metal sector experiencing a 6.08% drop, underperforming the broader market by 2.52% [13] - Specific declines include precious metals down 6.88%, copper down 6.28%, aluminum down 4.90%, and lithium down 8.74% [14] 2. Industry News and Announcements 2.1 Key Industry News - Lithium source signed a $200 million investment agreement with Indonesia's sovereign fund to expand production capacity significantly [18] - Ivanhoe Mines reduced its annual copper and zinc production guidance despite record output from its Congo operations [18] - Rusal plans to double aluminum production capacity at its Siberian facility [18] - Zijin Mining announced a $1 billion acquisition of Newmont's Akyem gold mine project in Ghana [19] 2.2 Key Industry Announcements - Various companies, including Shengda Resources and New Weiling, announced stock buybacks and equity incentive plans [20][21][22] 3. Non-Ferrous Metal Database 3.1 Industrial Metal Database - LME copper fell by 1.59% to $9,803 per ton, while SHFE copper dropped by 2.04% to ¥77,220 per ton [23][24] - LME aluminum decreased by 1.01% to $2,638 per ton, while SHFE aluminum rose by 1.78% to ¥20,825 per ton [23][24]