有色金属行业周报：基本金属价格震荡回落，静待内需验证

Investment Rating - The report rates the non-ferrous metals industry as Neutral/Downward [1]. Core Viewpoints - The basic metal prices are experiencing fluctuations and are expected to wait for domestic demand validation [1][6]. - The performance of the non-ferrous metals sector shows a weekly decline, with the SW Non-Ferrous Metals Industry Index down by 1.01% [22][24]. - The report highlights that the copper concentrate average price is $9.22 per ton, reflecting a decrease of $1.23 per ton from the previous week [39][40]. Summary by Sections Non-Ferrous Metals Sector Review - The SW Non-Ferrous Metals Industry Index ranks 23rd among A-share Shenwan first-level industries, with a year-to-date increase of 9.86% [22][24]. - The weekly performance of sub-sectors shows precious metals up by 1%, industrial metals flat, while minor metals, new metal materials, and energy metals decreased by 2% to 3% [24][30]. Basic Metals - LME copper price is $9,057 per ton, down 0.40% for the week, while domestic copper spot price is 74,693 CNY per ton, up 0.23% [35][40]. - LME aluminum price increased by 0.29% to $2,615 per ton, while domestic aluminum spot price decreased by 1.25% to 20,327 CNY per ton [45]. - LME zinc price rose by 0.57% to $3,090 per ton, with domestic zinc spot price down by 0.37% to 25,920 CNY per ton [55]. Precious Metals - Comex gold price increased by 1.92% to $2,945 per ounce, while domestic gold spot price rose by 1.29% to 624 CNY per gram [78][82]. - Comex silver price is $34.26 per ounce, reflecting a slight increase of 0.11%, with domestic silver spot price at 7,834 CNY per kilogram, up by 0.27% [78][82]. Energy Metals - The average price of battery-grade lithium carbonate is 76,400 CNY per ton, down 0.65%, while battery-grade lithium hydroxide is up by 0.31% to 69,249 CNY per ton [89].