地缘扰动铝供给致铝领涨工业金属，小金属钨和钽周内大涨：有色金属20260308周报-20260308

Investment Rating - The report maintains a "stronger than the market" rating for the industry [5] Core Views - Precious metals are expected to maintain long-term allocation value despite short-term fluctuations due to geopolitical tensions and changing interest rate expectations [10][11] - Industrial metals, particularly aluminum, are experiencing price increases driven by geopolitical disturbances affecting supply [12][18] - The lithium market is facing a price correction, but demand from the electric vehicle and energy storage sectors remains strong, suggesting potential for future price increases [19][20] - Other minor metals like tungsten and tantalum have seen significant price increases of 13.3% and 13.6% respectively [24] Summary by Sections Precious Metals - Geopolitical tensions are elevating the long-term allocation value of precious metals, with gold being a key focus for investment [9][10] - Specific stocks to watch include Zijin Mining, Zhongjin Gold, and others in both A-shares and H-shares [11] Industrial Metals - Aluminum prices are leading the industrial metals sector due to supply disruptions from geopolitical issues, with a short-term price increase expected [12][18] - Copper prices are supported by tight fundamentals and potential increases in demand from the domestic market [17] - Key stocks in copper include Zijin, Luoyang Molybdenum, and Jiangxi Copper [18] New Energy Metals - Lithium prices have corrected due to geopolitical factors, but the market remains tight with strong demand from downstream sectors [19][20] - Companies to monitor in the lithium sector include Ganfeng Lithium and others [23] Other Minor Metals - Tungsten and tantalum have seen significant price increases, indicating strong market interest [24] - The rare earth market is stable despite some supply chain issues, with companies like China Rare Earth and Northern Rare Earth being notable [24]