有色金属行业周报：美联储偏鹰指引金属价格普遍承压

Investment Rating - The report maintains a "Buy" rating for several key stocks in the industry, including 山金国际, 赤峰黄金, and 洛阳钼业, indicating a positive outlook for their performance in the coming years [32]. Core Insights - The report highlights that the Federal Reserve's hawkish stance has put pressure on metal prices, particularly gold, which has seen a decline due to market expectations of future interest rate adjustments [28]. - Industrial metals, particularly copper, are expected to show resilience due to macroeconomic demand and supply dynamics, despite short-term pressures from the Fed's policies [40]. - The lithium market is experiencing downward pressure on prices due to low-cost sales by traders and seasonal demand fluctuations, with expectations of continued weakness in the near term [40]. Summary by Sections Weekly Data Tracking - The non-ferrous metal sector has generally seen a decline, with specific price movements varying across different metals [51]. - Copper inventories have decreased, indicating potential supply tightness, while aluminum demand remains subdued, leading to price fluctuations [40][51]. Gold Market - The gold market is under pressure from the Fed's interest rate policies, with expectations of limited rate cuts in the near future, impacting gold prices negatively [40]. Industrial Metals - Copper prices are expected to be supported by strong demand from end-users, despite short-term pressures from Fed policies [40]. - Aluminum prices are experiencing volatility due to a combination of weak demand and supply constraints [40]. Energy Metals - Lithium prices are under pressure due to low-cost sales and seasonal demand shifts, with expectations of continued weakness in the market [40]. - The silicon market is facing challenges from high inventory levels and insufficient demand, leading to a bearish outlook [40]. Rare Earths & Magnetic Materials - The report discusses price trends for rare earth elements, indicating fluctuations influenced by market dynamics and supply chain factors [40].