有色、能源金属行业周报：印尼拟2025年削减镍矿开采配额，后续镍价走势需关注落地情况

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - Indonesia plans to reduce nickel mining quotas by 2025, which may impact future nickel prices depending on the implementation of this policy [1][71]. - The cobalt market is experiencing price fluctuations, with electrolytic cobalt priced at 176,000 CNY/ton, down 1.40% from the previous week, indicating a weak demand outlook [3][73]. - The rare earth market shows a decline in prices, particularly for praseodymium and neodymium, with expectations of limited downward space for prices in the future [4][29][79]. Summary by Relevant Sections Nickel Industry - As of December 20, LME nickel settled at 14,965 USD/ton, down 5.34%, with total LME nickel inventory at 161,436 tons, a decrease of 1.87% [23][96]. - The report highlights concerns over Indonesia's potential reduction in nickel mining quotas, which could disrupt supply and affect prices [71][72]. Cobalt Industry - Cobalt prices are under pressure, with electrolytic cobalt at 176,000 CNY/ton and a forecast of continued weak price fluctuations due to oversupply and reduced demand from the automotive sector [3][73]. - The report notes a decrease in domestic sulfuric cobalt production and a cautious outlook for demand in the first quarter of the following year [3][73]. Rare Earth Industry - Prices for rare earth elements, particularly praseodymium and neodymium, have seen declines, with praseodymium-neodymium oxide priced at 412,800 CNY/ton, down 2.15% [4][75]. - The overall sentiment in the rare earth market is pessimistic, with expectations of stable demand but cautious purchasing behavior from downstream consumers [4][76][79]. Lithium Industry - The lithium market is experiencing price adjustments, with lithium concentrate prices rising to 810 USD/ton, reflecting a 30 USD increase from the previous week [19][22]. - The report indicates that lithium salt prices are expected to remain volatile, influenced by supply dynamics and demand fluctuations [19][22][65]. Tin Industry - As of December 20, LME tin settled at 28,457 CNY/ton, down 2.83%, with LME tin inventory increasing by 2.15% [25][90]. - The report notes that tin exports from Indonesia are recovering slowly, with significant attention on the resumption of production in key mining areas [25][49]. Antimony Industry - The report mentions a disparity in antimony prices between domestic and international markets, with potential for price recovery if exports resume [52][104]. Uranium Industry - The report indicates a persistent supply-demand gap in the uranium market, with expectations of price support due to production delays and project developments [9][54]. General Market Sentiment - Overall, the market sentiment across various sectors is cautious, with many industries facing challenges related to supply, demand, and pricing dynamics [6][30][76].