黄金：突破新高白银：冲顶前高铜：国内现货高升水，价格坚挺

1. Report Industry Investment Ratings No industry investment ratings are provided in the content. 2. Core Views of the Report - Gold is expected to break through new highs, and silver is likely to reach its previous peak [2][4]. - Copper prices remain firm due to high domestic spot premiums [2][9]. - Zinc is predicted to trade within a range [2][12]. - Lead prices are supported by continuous inventory reduction [2][15]. - Tin is expected to move within a range [2][18]. - The fundamentals of aluminum are weak, alumina is in low - level oscillation, and cast aluminum alloy follows the trend of electrolytic aluminum [2][22]. - Nickel's price will fluctuate narrowly based on fundamental logic, with news influencing sentiment, and stainless - steel prices will move in a narrow range [2][26]. 3. Summaries by Related Catalogs 3.1 Precious Metals (Gold and Silver) - Price Movements: The closing price of Shanghai Gold 2510 yesterday was 800.56, with a daily increase of 1.97%, and the night - session closing price was 801.58, with a night - session increase of 0.86%. Shanghai Silver 2510 closed at 9775 yesterday, up 4.15%, and the night - session closing price was 9836.00, up 2.46% [5]. - Trading Volume and Open Interest: The trading volume and open interest of Shanghai Gold 2510 and Shanghai Silver 2510 both changed compared to the previous day. For example, the trading volume of Shanghai Gold 2510 increased by 167,929, and the open interest increased by 4,000 [5]. - Inventory Changes: The inventories of Shanghai Gold and Shanghai Silver both increased compared to the previous day, with Shanghai Gold increasing by 120 kilograms and Shanghai Silver increasing by 11,231 kilograms [5]. - Trend Intensity: Gold and silver both have a trend intensity of 2, indicating a strong upward trend [8]. 3.2 Copper - Price Movements: The closing price of the Shanghai Copper main contract yesterday was 79,780, up 0.47%, and the night - session closing price was 79,660, down 0.15%. The LME Copper 3M electronic - trading price was 9,875, down 0.31% [9]. - Trading Volume and Open Interest: The trading volume of the Shanghai Copper main contract increased by 7,420, and the open interest increased by 6,818. The trading volume of LME Copper 3M decreased by 12,738, and the open interest increased by 742 [9]. - Inventory Changes: The inventory of Shanghai Copper decreased by 1,212 tons, and the LME Copper inventory decreased by 25 tons [9]. - Macro and Industry News: China's August S&P Manufacturing PMI rebounded to 50.5, and the eurozone's August Manufacturing PMI rose above the boom - bust line for the first time in three years. Some copper mines have resumed operations or will complete maintenance work [9][11]. - Trend Intensity: Copper has a trend intensity of 1, indicating a relatively strong upward trend [11]. 3.3 Zinc - Price Movements: The closing price of the Shanghai Zinc main contract was 22,175, up 0.16%, and the LME Zinc 3M electronic - trading price was 2,814, up 0.97% [12]. - Trading Volume and Open Interest: The trading volume of the Shanghai Zinc main contract increased by 76, and the open interest decreased by 407. The trading volume of LME Zinc increased by 889, and the open interest increased by 1018 [12]. - Inventory Changes: The Shanghai Zinc futures inventory remained unchanged, and the LME Zinc inventory decreased by 625 tons [12]. - News: China's August S&P Manufacturing PMI rebounded [13]. - Trend Intensity: Zinc has a trend intensity of 0, indicating a neutral trend [14]. 3.4 Lead - Price Movements: The closing price of the Shanghai Lead main contract was 16,855, down 0.15%, and the LME Lead 3M electronic - trading price was 1,997, up 0.45% [15]. - Trading Volume and Open Interest: The trading volume of the Shanghai Lead main contract decreased by 3,999, and the open interest increased by 1,835. The trading volume of LME Lead increased by 2,073, and the open interest decreased by 686 [15]. - Inventory Changes: The Shanghai Lead futures inventory decreased by 524 tons, and the LME Lead inventory decreased by 1,500 tons [15]. - News: China's August S&P Manufacturing PMI rebounded, and the eurozone's August Manufacturing PMI rose above the boom - bust line [16]. - Trend Intensity: Lead has a trend intensity of 0, indicating a neutral trend [16]. 3.5 Tin - Price Movements: The closing price of the Shanghai Tin main contract was 273,240, down 1.94%, and the night - session closing price was 274,320, up 0.20%. The LME Tin 3M electronic - trading price was 35,060, up 0.31% [19]. - Trading Volume and Open Interest: The trading volume of the Shanghai Tin main contract increased by 1,564, and the open interest decreased by 10,315. The trading volume of LME Tin decreased by 9, and the open interest increased by 53 [19]. - Inventory Changes: The Shanghai Tin inventory decreased by 58 tons, and the LME Tin inventory increased by 145 tons [19]. - Macro and Industry News: Multiple news events such as stock market trends, political events, and corporate developments are reported [20]. - Trend Intensity: Tin has a trend intensity of 1, indicating a relatively strong upward trend [21]. 3.6 Aluminum, Alumina, and Cast Aluminum Alloy - Price Movements: The closing price of the Shanghai Aluminum main contract was 20,645, down 95. The closing price of the Shanghai Alumina main contract was 3,008, down 28. The closing price of the aluminum alloy main contract was 20,275, down 75 [22]. - Trading Volume and Open Interest: There were changes in the trading volume and open interest of Shanghai Aluminum, LME Aluminum, Shanghai Alumina, and the aluminum alloy main contract [22]. - Inventory Changes: The domestic aluminum ingot social inventory increased by 0.60 tons, and the LME aluminum ingot inventory remained unchanged [22]. - Comprehensive News: The ECB is expected to maintain price stability, and the eurozone's Manufacturing PMI rose above the boom - bust line [24]. - Trend Intensity: Aluminum has a trend intensity of 0, alumina has a trend intensity of - 1, and cast aluminum alloy has a trend intensity of 0 [24]. 3.7 Nickel and Stainless - Steel - Price Movements: The closing price of the Shanghai Nickel main contract was 123,450, and the closing price of the stainless - steel main contract was 12,950 [26]. - Trading Volume and Open Interest: There were changes in the trading volume and open interest of Shanghai Nickel and the stainless - steel main contract [26]. - Industry News: There are various news about nickel production in Canada and Indonesia, such as potential export stoppages, new project production, environmental issues, and production suspensions [26][27][28]. - Trend Intensity: Nickel and stainless - steel both have a trend intensity of 0, indicating a neutral trend [31].