有色金属行业周报：美非农回升金价延续承压，智利出口锂盐同环比再迎高增

Investment Rating - The report maintains an "Overweight" rating for the industry [1]. Core Insights - The report highlights that gold prices are under pressure due to a rebound in U.S. non-farm payrolls, which exceeded expectations, leading to a cooling of interest rate cut expectations [2]. - The report emphasizes the resilience of U.S. inflation and the ongoing verification of whether the economy can achieve a soft landing post-rate cuts, shifting market sentiment towards "secondary inflation" expectations [2]. - The report suggests monitoring companies such as Zijin Mining, Shandong Gold, and Chifeng Jilong Gold for potential investment opportunities [2]. Summary by Sections Weekly Data Tracking - The non-ferrous metals sector saw a general increase, with the Shenwan Non-ferrous Metals Index rising by 1.4% [22]. - The report notes that the energy metals sector experienced a decline of 1.1%, while the metal new materials sector increased by 3.9% [23]. Precious Metals - Gold prices on COMEX are reported at $2,655 per ounce, with a weekly decline of 0.7% [31]. - Silver prices on COMEX are at $31.48 per ounce, showing a weekly increase of 1.4% [31]. Industrial Metals - Copper prices on SHFE are at 74,730 CNY per ton, reflecting a weekly increase of 1.2% [33]. - Aluminum prices on SHFE are at 20,310 CNY per ton, with a slight weekly decline of 0.4% [33]. Energy Metals - Lithium carbonate prices are reported at 76,000 CNY per ton, with a weekly decrease of 1.9% [36]. - The report indicates that Chile's lithium salt exports have seen a significant increase, with November exports reaching 36,000 tons LCE, marking a near two-year high [2]. Company Recommendations - The report recommends companies such as Shandong Gold, Chifeng Jilong Gold, and Zijin Mining for potential investment based on their performance and market conditions [2][6].