Key Points The shift toward efficient solar technologies is increasing the demand for silver, which is used in global green energy production. The iShares Silver Trust serves as a primary vehicle for investors to gain exposure to the metal during periods of tight global supply. A supportive Federal Reserve and new government designations for critical minerals are creating a strong foundation for higher prices. Interested in iShares Silver Trust? Here are five stocks we like better. While the financ ...

今年迄今，白银已累计上涨近90%，成为表现最强劲的大宗商品之一。投资者正从政府债券与主要货币 撤离，转向贵金属等"抗贬值资产"。与黄金不同，白银具备大量工业需求，尤其在太阳能光伏和电子制 造领域，因此在持续的供需缺口背景下更获得资金青睐。市场预计白银今年将连续第五年出现供应短 缺。 此次创历史新高，距离上个月伦敦主要交易中心出现严重供应挤压仅过去一个多月。当时伦敦库存紧缺 导致价格暴涨，甚至高于上海与纽约价格。尽管约5400万盎司白银近期流入伦敦市场帮助缓解了紧张， 供应仍然吃紧，1个月期白银借贷成本至今仍显著高于常态。 市场也在关注白银可能面临的新贸易风险。白银已于11月被美国地质调查局列入"关键矿物"名单，意味 着未来可能被纳入关税讨论范围。自10月初以来，纽约Comex仓库已有7500万盎司白银出库，但因担忧 美国白银可能出现突然溢价，不少交易商对将金属运往海外保持谨慎，进一步加剧了海外市场紧俏。 智通财经APP获悉，白银价格周五强势跳涨，再度刷新历史纪录，突破今年10月创下的前高。现货白银 盘中一度飙升超5.6%，至每盎司56.547美元，创下有史以来最高价。 白银近期的强劲表现受多重因素推动，包括市 ...

Core Viewpoint - Rio Tinto is seeking to divest its boron assets in the U.S., with a potential sale price of up to $2 billion, as part of a strategy to streamline its operations under new CEO Simon Trott [1][2]. Group 1: Company Strategy - The divestiture of boron assets is part of Rio Tinto's broader strategy to simplify its business and focus on high-quality assets [2]. - Under CEO Simon Trott, who took office three months ago, the company has been restructured into three departments, with a review of the minerals division, including borates [2]. Group 2: Asset Details - The boron business includes a mine and processing facility in Boron, California, a refining and shipping facility at the Port of Los Angeles, and mining operations near Owens Lake in the Sierra Nevada [1]. - Rio Tinto's California operations account for approximately 30% of global boron demand [1]. Group 3: Market Context - Boron is a critical mineral with various industrial applications, including fertilizers, glass and ceramics manufacturing, fiberglass insulation, and strengthening metal alloys [1]. - The U.S. Geological Survey has recently listed boron as a critical mineral, highlighting its importance to the U.S. economy and national security [1][2].

Geopolitical & Strategic Alliance - US and Japan establish framework to secure critical minerals and rare earth supply, signaling strengthened economic and strategic alliance [1] - The agreement, named "New Golden Era for the US-Japan Alliance," highlights the importance of the partnership [1] Industry Focus & Supply Chain - Focus on developing diversified, liquid, and fair markets for critical minerals and rare earths through economic policy tools and coordinated investments [1] - Targeted sectors include permanent magnets, batteries, catalysts, and optical materials, addressing supply chain gaps in these derivative products [1] - Collaboration to identify projects addressing critical mineral and rare earth supply chain vulnerabilities [1]

Group 1 - The core agreement between the US and Australia focuses on a critical minerals deal aimed at countering China's influence, with a projected value of $85 billion [1] - Both governments will invest $1 billion each in mining and processing projects over the next six months, establishing minimum price floors for critical minerals [1][5] - The US Export-Import Bank announced over $2.2 billion in investment intentions for Australian critical mineral projects, which are essential for advanced defense systems and high-tech manufacturing [2] Group 2 - The "AUKUS" submarine agreement, valued at AUD 368 billion (approximately $239.5 billion), received support from Trump, who aims to expedite the construction of nuclear submarines for Australia [3] - Australia has already invested $2 billion to enhance the productivity of US submarine shipyards and plans to maintain US submarines at its Indian Ocean naval base starting in 2027 [3] - The agreement includes provisions to simplify permitting processes for mining and processing facilities to increase output and enhance cooperation on geological resource mapping [4][5]

特朗普和澳大利亚总理阿尔巴尼斯周一在白宫签署一项关于稀土和关键矿物的协议。阿尔巴尼斯称这是一个价值85亿美元的“已准备就绪的合作项目”。作为协议的一部分，双方同意削减采矿、加工设施及相关运营的审批程序，以提高稀土和关键矿物的产量。特朗普说：“大约一年后，我们将拥有如此多的关键矿物和稀土，多到不知道如何处理”。白宫在声明中称，美国政府和澳大利亚政府计划在未来6个月共同向关键矿产项目投资超30亿美元，这些项目的可采资源价值估计为530亿美元。白宫指出，五角大楼将在西澳大利亚州投资建设一个年产能100吨的镓加工厂。 ...

Market Developments - The U.S. has included copper and potash in the draft list of critical minerals for 2025, citing national security and economic concerns. The draft has been published by the U.S. Geological Survey for a 30-day public comment period [1] - The U.S. government holds a 10% stake in Intel, with all profits going to the U.S., potentially paving the way for more similar transactions [2] - The Federal Reserve's interest rate cut is deemed appropriate by the Chairman of the National Economic Council, while improvements in communication regarding interest rate paths and economic outlook are suggested by Fed officials [3] - The European Central Bank President Lagarde stated that the impact of U.S. tariffs on European GDP is likely to be minimal, as businesses will adapt to the new tariff policies [4] - Japan Post announced it will suspend the acceptance of certain mail to the U.S. due to the cancellation of small package tariff exemptions by the Trump administration [5] - Fitch Ratings confirmed India's rating at "BBB-" with a stable outlook, supported by strong growth and robust external fiscal conditions [6] - A survey by the Brazilian Central Bank indicates economists expect GDP growth of 1.86% in 2026 and an inflation rate of 4.86% in 2025 [6] - In the U.S., new home sales in July fell by 0.6% to an annualized rate of 652,000, which is above the expected 630,000. The median price of new homes dropped by 5.9% year-on-year to $403,800 [6] - The Chicago Fed National Activity Index for July was reported at -0.19, with the previous value revised from -0.1 to -0.18 [6] Global Market Indices - The Dow Jones Industrial Average decreased by 0.77% to 45,282.47 points, the S&P 500 fell by 0.43% to 6,439.32 points, and the Nasdaq Composite dropped by 0.22% to 21,449.29 points [7] Commodity Prices - COMEX gold futures declined by 0.23% to $3,410.70 per ounce, while COMEX silver futures fell by 1.29% to $38.55 per ounce [8] - U.S. crude oil futures rose by 1.70% to $64.74 per barrel, and Brent crude oil futures increased by 1.41% to $68.17 per barrel [9] Currency Exchange Rates - The U.S. dollar index increased by 0.74% to 98.44, with the euro down by 0.87% against the dollar at 1.1622, and the British pound down by 0.54% at 1.3455 [10]

Core Viewpoint - The article discusses China's strategic control over critical mineral supply chains, particularly in the context of the ongoing trade tensions with the United States, highlighting the implications of China's export restrictions on rare earth elements and other key minerals [1][3][4]. Group 1: China's Control Over Critical Minerals - China dominates approximately 60% of global rare earth production, which is essential for electric vehicle (EV) motors, and its export restrictions have led to production halts in major automotive companies like Ford and Suzuki [3][4]. - In the refining stage of 20 key minerals surveyed by the International Energy Agency (IEA), China holds an average market share of about 70%, indicating its significant influence in the global supply chain [4][5]. - For cobalt, a critical material for EV batteries, while 70% of the raw material is sourced from the Democratic Republic of Congo, China controls around 80% of the refining market [5]. Group 2: Global Demand and Technological Dominance - The demand for critical minerals is increasing due to the transition to renewable energy, with China also leading in the production of solar panels (approximately 80%), wind turbines (around 60%), and EV batteries (over 70%) [6]. - As the world accelerates its energy transition, reliance on China for these critical minerals is expected to grow, emphasizing the strategic importance of China's resource control [6]. Group 3: Historical Context and Strategic Initiatives - China's focus on rare earth elements dates back to the 1980s, where it gained a competitive edge due to more lenient environmental regulations compared to Japan, the US, and Europe [7]. - The Belt and Road Initiative has further strengthened China's resource security by investing in mineral projects in countries like the Democratic Republic of Congo and Indonesia [7]. Group 4: Geopolitical Implications and Supply Chain Strategies - The article highlights the geopolitical risks associated with China's dominance in supply chains, particularly as the US seeks to revitalize its manufacturing sector [8][9]. - Companies are encouraged to diversify their supply chains and develop alternative technologies to mitigate risks associated with reliance on critical minerals [9].

Group 1 - The G7 reached a consensus on a draft statement regarding artificial intelligence (AI) and critical minerals [1]

Core Viewpoint - The U.S. Department of Energy has classified coal used in steel manufacturing as a critical mineral [1] Group 1 - The classification of coal as a critical mineral highlights its importance in the steel production process [1]