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Report Summary Core View - The report presents the average prices, price changes, and spot-futures spreads of various non-ferrous metals and related products on August 14, 2025, including copper, aluminum, lead, zinc, tin, nickel, silicon, and lithium carbonate [1]. Summary by Metal Copper - SMM 1 electrolytic copper average price was 79,435 yuan, down 40 yuan; SMM flat copper spot-futures spread was 160 yuan, down 5 yuan [1]. Aluminum - SMM A00 aluminum average price was 20,710 yuan, down 50 yuan; SMM A00 aluminum spot-futures spread was 10 yuan, up 30 yuan; Alumina (Shanxi) price was 3,240 yuan, unchanged; Australian alumina FOB average price was 370 dollars, unchanged [1]. Lead - SMM 1 lead ingot average price was 16,700 yuan, down 50 yuan; SMM 1 lead ingot spot-futures spread at 10:15 was -50 yuan, up 60 yuan; Recycled refined lead average price was 16,725 yuan, down 25 yuan; Scrap refined lead price difference was -25 yuan, down 25 yuan [1]. Zinc - SMM 0 zinc ingot average price was 22,510 yuan, down 50 yuan; SMM 0 zinc ingot spot-futures spread at 10:15 was 0 yuan, up 35 yuan [1]. Tin - SMM 1 tin average price was 269,500 yuan, down 700 yuan; SMM 1 tin spot-futures spread at 10:15 was 1,400 yuan, up 800 yuan; 40% tin concentrate (Yunnan) average price was 257,500 yuan, down 700 yuan; 40% tin concentrate (Yunnan)/SMM 1 tin ratio was 95.55% [1]. Nickel - 1 imported nickel average price was 122,700 yuan, down 450 yuan; 1 imported nickel spot-futures spread was 400 yuan, unchanged; 1 Jinchuan nickel average price was 124,400 yuan, down 400 yuan; 1 Jinchuan nickel spot-futures spread was 2,100 yuan, up 50 yuan [1]. Silicon - Oxygenated 553 (Xinjiang) average price plus 800 yuan (with regional discount of 200 yuan and quality impurity removal) was 9,800 yuan, unchanged; 553 silicon spot-futures spread at 10:15 was 1,045 yuan, up 70 yuan; 421 silicon (Kunming) average price was 10,000 yuan; Polysilicon dense material average price was 0 yuan; Granular silicon average price was 0 yuan; N-type polysilicon material average price was 47 yuan [1]. Lithium Carbonate - Battery-grade lithium carbonate average price was 82,000 yuan, up 1,000 yuan; Battery-grade lithium carbonate spot-futures spread at 10:15 was -4,000 yuan, down 640 yuan; Industrial-grade lithium carbonate average price was 79,750 yuan; Battery-industrial grade lithium carbonate price difference was 2,250 yuan, up 50 yuan [1].