有色金属周报：电解铝表现依旧强势，回调依然看好稀土26年表现

Group 1 - Investment rating for copper remains strong with a slight price decrease of 1.04% to $12,735.5 per ton on LME and 0.73% to ¥100,300 per ton on SHFE [1][13] - The report indicates a steady recovery in copper cable enterprises' operating rates, driven by a slight price adjustment and increased orders from the power sector and renewable energy [1][13] - The aluminum market shows a positive trend with LME aluminum price increasing by 0.23% to $3,439.0 per ton and SHFE aluminum price up by 0.99% to ¥25,000 per ton, indicating a recovery in downstream processing rates [2][14] Group 2 - Gold prices have decreased by 2.44% to $5,023.1 per ounce, influenced by geopolitical risks and market fluctuations, with SPDR gold holdings increasing by 0.85 tons [3][15] - The rare earth sector is experiencing upward momentum, with prices for praseodymium and neodymium oxide decreasing by 5.58%, while the overall price center is rising due to ongoing supply-side reforms [4][33] - Tungsten prices have surged by 15.80%, supported by increased demand from both civilian and military sectors, indicating a strong supply-demand resonance [4][36] Group 3 - Lithium carbonate average price decreased by 1.2% to ¥157,800 per ton, while hydroxide lithium average price fell by 0.6% to ¥161,000 per ton, with production showing a slight increase [5][56] - Cobalt prices remained stable with a slight decrease of 0.1% to ¥432,000 per ton, while demand from downstream sectors remains cautious [5][57] - Nickel prices on LME decreased by 0.7% to $17,320 per ton, with domestic nickel prices showing a slight increase, indicating market volatility [5][56]