SINOLINK SECURITIES·2025-07-13 07:53Investment Rating - The report indicates a positive outlook for the copper and aluminum industries, with copper showing a stable upward trend and aluminum stabilizing at the bottom [14][15][16]. Core Insights - The copper market is experiencing a slight price decline, with LME copper down 1.92% to $9,663.00 per ton, while domestic copper inventory has increased slightly [15]. - The aluminum market shows a minor price increase, with LME aluminum up 0.17% to $2,602.00 per ton, and a decrease in domestic electrolytic aluminum ingot inventory [16]. - Gold prices have increased by 0.71% to $3,370.30 per ounce, driven by geopolitical tensions and increased demand for safe-haven assets [17]. - The rare earth sector is expected to see price increases due to tightening supply and rising demand, with strategic government actions enhancing the sector's outlook [39]. - The antimony market is stabilizing, with expectations of price recovery supported by reduced domestic production and increased demand from new regulations [40]. - Molybdenum prices are rising, supported by low inventory levels and strong demand from the steel industry [41]. - Lithium prices have shown a mixed trend, with carbonate prices increasing while hydroxide prices have slightly decreased [44]. Summary by Sections 1. Overview of Bulk and Precious Metals Market - Copper shows a robust upward trend, while aluminum is stabilizing at lower levels. Precious metals are accelerating due to fiscal expansion policies [14]. 2. Bulk and Precious Metals Fundamentals Update 2.1 Copper - LME copper price decreased by 1.92% to $9,663.00 per ton, with slight increases in domestic inventory and production rates expected to rise [15]. 2.2 Aluminum - LME aluminum price increased by 0.17% to $2,602.00 per ton, with a decrease in domestic inventory [16]. 2.3 Precious Metals - Gold prices increased by 0.71% to $3,370.30 per ounce, influenced by geopolitical tensions [17]. 3. Overview of Minor Metals and Rare Earths Market - The rare earth sector is expected to benefit from supply constraints and increasing demand, with government actions enhancing market conditions [39]. 4. Minor Metals and Rare Earths Fundamentals Update 4.1 Rare Earths - Prices for rare earth elements are expected to rise due to tightening supply and strategic government actions [39]. 4.2 Antimony - Antimony prices are stabilizing, with expectations of recovery supported by reduced production and new regulations [40]. 4.3 Molybdenum - Molybdenum prices are increasing due to low inventory levels and strong demand from the steel industry [41]. 4.4 Lithium - Lithium carbonate prices increased by 2.43% to 63,200 CNY per ton, while hydroxide prices decreased slightly [44].