国投期货：企业微信截图（17579152541527）

Report Summary 1. Report Industry Investment Rating - No information provided in the report. 2. Report's Core View - The report presents the average prices, price changes, and spot premium/discounts of various non - ferrous metals on September 15, 2025, including copper, aluminum, lead, zinc, tin, nickel, silicon, and lithium [1]. 3. Summary by Metals Copper - SMM 1 electrolytic copper average price is 80,940 with a rise of 185, and SMM flat - water copper premium/discount is 50 with a fall of 15 [1]. Aluminum - SMM A00 aluminum average price is 20,950 with a fall of 70, and SMM A00 aluminum premium/discount is - 50 with a fall of 10; Alumina (Shanxi) price is 3,045 with a fall of 5, and Australian alumina FOB average price is 340 with no change [1]. Lead - SMM 1 lead ingot average price is 16,950 with a rise of 175, and SMM 1 lead ingot premium/discount to the current - month futures at 10:15 is - 70 with no change; Recycled refined lead average price is 16,900 with a rise of 150, and the refined - scrap price difference is 50 with a rise of 25 [1]. Zinc - SMM 0 zinc ingot average price is 22,230 with no change, and SMM 0 zinc ingot premium/discount to the current - month futures at 10:15 is - 15 with a fall of 5 [1]. Tin - SMM 1 tin average price is 273,300 with a fall of 600, and SMM 1 tin premium/discount to the current - month futures at 10:15 is 300 with a rise of 200; 40% tin concentrate (Yunnan) average price is 261,300 with a fall of 600, and the ratio of 40% tin concentrate (Yunnan) to SMM 1 tin is 95.61% [1]. Nickel - 1 imported nickel average price is 122,150 with a rise of 100, and 1 imported nickel premium/discount to the SHFE nickel contract average price is 300 with no change; 1 Jinchuan nickel average price is 124,150 with a rise of 150, and 1 Jinchuan nickel premium/discount to the SHFE nickel contract average price is 2,300 with a rise of 50 [1]. Silicon - The average price of Tongyang 553 (Xinjiang) plus 800, considering regional discount + 200 and quality impurity removal, is 9,650 with a rise of 50, and 553 spot premium/discount to the current - month futures at 10:15 is 950 with a rise of 1,050; 421 silicon (Kunming) average price is 9,650, polycrystalline silicon dense material average price is 0, granular silicon average price is 0, and N - type polycrystalline silicon material average price is 51.55 [1]. Lithium - Battery - grade lithium carbonate average price is 72,450 with no change, and battery - grade lithium carbonate premium/discount to the current - month futures at 10:15 is 190 with a fall of 1,340; Industrial - grade lithium carbonate average price is 70,200, and the difference between battery - grade and industrial - grade lithium carbonate is 2,250 with no change [1].