有色、能源金属行业周报：本周沪镍价格环比上涨，关注印尼镍矿RKAB配额审批情况

Investment Rating - The industry rating is "Recommended" [4] Core Views - The lithium carbonate prices in China have increased, with industrial-grade lithium carbonate averaging 74,500 CNY/ton, up 2.76% week-on-week, and battery-grade lithium carbonate averaging 77,000 CNY/ton, up 2.67% week-on-week [1][23] - Nickel prices have risen, with LME nickel closing at 15,840 USD/ton, up 2.86% week-on-week, while domestic nickel prices reached 128,400 CNY/ton, up 2.18% [3][29] - Cobalt prices are under pressure, with electrolytic cobalt at 164,500 CNY/ton, down 1.50% week-on-week [7][32] - Rare earth prices have shown strength, particularly praseodymium and neodymium, with prices increasing by 3.08% and 3.21% respectively [8][37] - Tin prices have decreased, with LME tin at 29,400 USD/ton, down 1.42% week-on-week, while domestic tin prices averaged 248,100 CNY/ton, down 1.41% [10][45] - Uranium supply remains tight, with global uranium prices reaching 60.22 USD/ton, near a 15-year high, driven by geopolitical factors and structural supply shortages [14][17] Summary by Sections Lithium Industry Update - Domestic lithium salt prices have increased, with a total inventory of 108,200 tons, down 443 tons from the previous week [1][23][24] - The production of lithium carbonate is expected to decline due to maintenance and holiday impacts, leading to a strong cost support for prices [1][24][28] - The price of lithium concentrate has been adjusted upwards, with SC6 pricing at 850 USD/ton, reflecting a tight supply situation [2][25] Nickel and Cobalt Industry Update - Nickel prices have increased, with a notable rise in LME nickel and domestic prices, while supply from Indonesia is expected to decrease due to quota cuts [3][29] - Cobalt prices are weak, with a decline in electrolytic cobalt and stable production levels, but demand is expected to decrease as the holiday approaches [7][32] Rare Earth Industry Update - Rare earth prices, particularly for praseodymium and neodymium, have increased, with stable supply but reduced demand as the holiday season approaches [8][37][44] Tin Industry Update - Tin prices have decreased, with ongoing supply tightness due to uncertainties in Myanmar's mining operations and reduced demand during the holiday season [10][45] Uranium Industry Update - The uranium market remains tight, with high prices driven by geopolitical tensions and supply shortages, particularly with the Inkai mine's uncertain production timeline [14][17]