金属及金属新材料行业投资策略周报：铜铝预期将改善，金价继续上行

Investment Rating - The industry rating for the metal and metal new materials sector is "Buy" [2]. Core Viewpoints - Expectations for copper and aluminum are improving, while gold prices are expected to continue rising [2]. - The basic metals sector is anticipated to experience price fluctuations upward as macroeconomic uncertainties decrease [5]. - The steel sector is facing a demand decline and rising costs, which may stabilize prices during the off-season [5]. - Gold prices are projected to rise, presenting opportunities for investment in the sector [5]. - Lithium prices are expected to increase due to pre-holiday maintenance, affecting supply dynamics [5]. Summary by Sections 1. Performance of the Non-Ferrous Metal Industry - From January 13 to January 17, the Shenwan Industrial Metal Index rose by 3.96%, closing at 1864.41 points [17]. - The Shenwan Precious Metal Index increased by 3.38%, closing at 14431.63 points [17]. - The Shenwan Small Metal Index saw a rise of 4.93%, closing at 16131.86 points [17]. - The Shenwan Metal New Materials Index increased by 3.85%, closing at 6579.70 points [17]. 2. Metal Prices - Basic metals prices showed varied movements, with LME copper rising by 1.19% to $9,181.50 per ton and LME aluminum increasing by 4.36% to $2,680.50 per ton [42]. - SHFE copper rose by 1.69% to ¥76,540 per ton, while SHFE aluminum increased by 1.61% to ¥20,470 per ton [42]. - Precious metals saw COMEX gold rise by 0.83% to $2,740 per ounce, and SHFE gold increase by 0.82% to ¥640.68 per gram [42]. - Lithium carbonate prices rose by 2.87% to ¥77,900 per ton, while hydroxide lithium prices increased by 0.57% to ¥70,500 per ton [42]. 3. Recommendations for Key Companies - The report suggests focusing on companies such as Luoyang Molybdenum (A+H), Western Mining, Jincheng Mining, China Aluminum (A+H), Yunnan Aluminum, and Tianshan Aluminum [5]. - In the steel sector, companies like Baosteel, Hualing Steel, Jiuli Special Materials, and Yongjin Co. are recommended [5]. - For precious metals, companies such as Chifeng Jilong Gold Mining, Zhaojin Mining, Shandong Gold (A+H), and Zhongjin Gold are highlighted [5]. - In the energy metals sector, companies like Ganfeng Lithium (A+H), Shengxin Lithium Energy, and Huayou Cobalt are suggested [5].