全面实施"金属矿业先锋计划"，推行"以干代训"培养机制，打破业务壁垒，强化战略协同，将资源接 续、科技创新、重大项目、深化改革等关键领域作为识别干部的重要场景。2025年以来，新提任干部均 具有重大项目或吃劲岗位磨炼经历，熟悉金属矿业、新能源材料的占比达45.3%。 据介绍，中国五矿集团有限公司（简称中国五矿或公司）成立于1950年，是以金属矿产为核心主业、由 中央直接管理的国有重要骨干企业，国有资本投资公司试点企业。公司致力于成为"资源保障国家队、 两新服务主力军"，加快建设具有全球竞争力的世界一流金属矿产企业集团，为全球经济增长和低碳化 发展提供有力资源保障。目前，公司现有职工总数18万人，在全球60多个国家和地区开展业务。 《中国组织人事报》1月13日刊文《中国五矿将干部选用融入国家战略 把好政治关 立好实干尺》。 其中，将考察结果刚性运用于干部选拔任用，对政治上不合格的"一票否决"，2025年以来已有9名干部 被暂缓使用。 文章称，聚焦实战实绩，把干部在重大任务中的实际表现作为检验公心的重要依据，引导干部将个人成 长融入服务国家战略的实际行动。牢固树立"有为才有位"的用人理念，强化"实干、干实"的工作 ...

1月12日（周一），伦敦金属交易所（LME）期铜上涨并逼近纪录高位，市场情绪受益于对最大消费国 强劲需求的乐观预期，以及人工智能所需数据中心的拉动。 伦敦时间1月12日17:00(北京时间1月13日01:00)，LME三个月期铜上涨211.5美元，或1.63%，收报每吨 13,209.5美元。 此外，伦敦金属交易所（LME）周一发布的按产地划分的金属库存月度报告显示，2025年12月，中国 产的铜在LME库存中的占比下降，原因是位于亚洲的LME注册仓库中的铜库存流出。 | | 1月12日 LIE基本金属收盘报价(美元/吨) | | | | --- | --- | --- | --- | | 金属 | 收盘价 | 张跃 | 张跌幅 | | 三个月期铜 | 13,209.50 ↑ | +211.50 ↑ +1.63% | | | 三个月期铝 | 3,184.50 ↑ | +48.50 ↑ +1.55% | | | 三个月期锌 | 3,216.00 ↑ | +62.50 ↑ +1.98% | | | 三个月期铅 | 2,053.00 1 | +3.50 ↑ +0.17% | | | 三个月期镇 | 17,888.0 ...

Report Summary 1. Industry Investment Rating No specific industry investment rating is provided in the report. 2. Core Viewpoints - On January 12, gold and silver prices rose significantly, with Shanghai gold up 2.57% and Shanghai silver up 14.42%. London gold spot exceeded $4,600 per ounce, and London silver spot exceeded $84 per ounce [4]. - The expectation of the Fed's impaired independence dominated the market. The threat of a subpoena to Powell and the uncertainty of the new Fed chairman nominee increased concerns, driving up precious metal prices [5]. - The unannounced result of the 232 investigation on critical minerals and the "Monroe Doctrine" expectation led to the overall strength of the metal sector. The spot shortage logic of silver may persist [6]. - Looking ahead, gold and silver are expected to maintain an overall upward - trending oscillation, with silver's high - volatility state likely to continue in the short term. London gold may reach $4,900 - $5,000 per ounce, and silver may challenge new highs of $90 - $100 per ounce [6]. 3. Summary by Related Factors Fed - related Factors - The Fed chairman is about to change, and the new nominee has not been disclosed. Trump said he had made a decision but refused to reveal it. As of January 12, Kevin Warsh had a 41% chance of being elected, Kevin Hassett 40%, and Christopher Waller 9% [5]. - The Justice Department's subpoena threat to Powell increased market concerns about the Fed's impaired independence, driving up precious metal prices despite the delayed expected interest - rate cut time shown by FED NATOH [5]. Geopolitical and Trade - related Factors - On January 3, the US attacked Venezuela and made remarks about Greenland, increasing the expectation of geopolitical conflicts and the "Monroe Doctrine" - style US foreign policy. This led to resource security concerns and the overall strength of the metal sector [6]. - The result of the US 232 investigation on critical minerals has not been announced, and the hoarding demand may keep squeezing the floating inventory, making the silver spot shortage logic likely to repeat [6]. Market Performance and Outlook - After the negative impact of the Bloomberg Commodity Index weight adjustment last week, gold and silver rebounded. Driven by multiple factors, they are expected to remain strong in the short term [6].

Group 1 - Copper and nickel prices are expected to rise weekly due to supply concerns, despite recent profit-taking by investors leading to sell-offs [1] - Shanghai Futures Exchange (SHFE) copper closed down 0.45% at 101,410 yuan per ton, but weekly it increased by 1.60%. London Metal Exchange (LME) three-month copper rebounded by 0.97% to $12,844 per ton, with a projected weekly increase of 3.24% [1] - Earlier this week, SHFE copper reached a record high of 105,500 yuan per ton, while LME copper peaked at $13,386.50 per ton. The recent pullback in copper prices was primarily driven by profit-taking [2] Group 2 - Global miners are seeking to expand their positions in copper and other metals, as copper is expected to benefit from global energy transition and electrification [3] - Glencore and Rio Tinto have resumed merger talks, which could create the world's largest mining company. Meanwhile, Anglo American and Teck Resources are nearing completion of their merger aimed at forming a copper giant [3] - SHFE nickel closed down 2.67% at 139,090 yuan per ton, but weekly it increased by 2.36%. Earlier this week, it reached a high of 149,600 yuan per ton [3]

Group 1 - The core viewpoint of the article is that global copper demand is expected to increase by 50% by 2040, driven by the expansion of artificial intelligence, defense, and robotics industries, leading to a potential supply gap of over 10 million tons if recycling and mining do not keep pace [1][3]. - Copper is a critical material for construction, transportation, technology, and electronics due to its excellent conductivity, corrosion resistance, and ease of processing. The report predicts that global copper demand will reach 42 million tons by 2040, a significant increase from 28 million tons in 2025, with nearly a quarter of the demand potentially unmet without new supply [3]. - Dan Yergin, Vice Chairman of S&P Global, states that the advancement of global electrification is a core driver, with copper being the foundational metal for electrification [4]. Group 2 - Goldman Sachs' commodity research team notes that copper prices have experienced significant volatility, rising from below $11,000 per ton at the end of November to a high of $13,387 per ton on January 6, marking a cumulative increase of 22%. They acknowledge that current prices exceed their estimated fair value of around $11,400 per ton, but believe the "overheating" is supported by substantial investor inflows and low inventory levels outside the U.S. [4]. - Goldman Sachs warns investors to be cautious of high price risks, stating that prices above $13,000 are unlikely to be sustainable. They maintain their forecast of $11,200 per ton for Q4 2026 and anticipate a potential pullback in Q2 [5]. - The current price surge is driven by three main themes: signs of tightness in the spot market, ongoing investment in AI data center construction attracting funds into the copper market, and a macro narrative of "economic overheating" that boosts expectations for U.S. economic growth and risk asset rebounds. This macro sentiment temporarily masks the underlying weak fundamentals [5].

Group 1: Copper Market - The copper market is experiencing a clear long-term upward trend, driven by macroeconomic factors and improving fundamentals, with expectations of a tight spot market in the first half of 2026 [1] - Current industrialization, urbanization, and electrification processes are reshaping the demand growth curve for copper, with potential price elasticity expected to exceed 100% in the medium to long term [1] Group 2: Aluminum Market - The aluminum market is expected to face a tight supply-demand balance, with a narrowing decline in demand from the real estate sector and a recovery in the export market [2] - Emerging fields such as energy storage are providing significant growth opportunities for aluminum consumption, leading to a probable shortage in the aluminum market by 2026 [2] Group 3: Tin Market - Tin prices are anticipated to show significant phase differentiation, with supply bottlenecks expected to ease after the second quarter of 2026, improving market conditions [2] - However, geopolitical risks may cause temporary disruptions in the tin market during the first quarter of 2026, while a tight supply-demand situation is expected to persist in the first half of 2026 [2] Group 4: Nickel Market - Nickel prices are highly dependent on the implementation of Indonesian policies, with a significant reduction in nickel ore production targets expected to impact the market [3] - The anticipated production target of 250 million tons for 2026 is expected to be insufficient to meet domestic smelting needs, potentially reversing the current oversupply situation [3] Group 5: Zinc Market - The zinc market is expected to strengthen structurally due to macroeconomic and fundamental support, with a proactive inventory replenishment phase anticipated [3] - Demand from new economic sectors, such as renewable energy, is expected to contribute to a 2% increase in global zinc demand in 2026 [3] Group 6: Lead Market - The lead market is likely to continue a wide-ranging oscillation pattern, with a slight oversupply situation globally and a narrowing supply-demand gap in the domestic market [4] - The expected price range for lead in 2026 is projected to be between 16,500 to 18,000 CNY per ton for Shanghai lead futures and 1,900 to 2,150 USD per ton for London lead prices [4]

（注：本文为原创分析，核心观点基于公开信息及市场推导，以上观点仅供参考，不做为入市依据 ） 长江有色金属网 2026年1月7日，科技与金属两大领域的共振堪称年度财经科技领域的首场"现象级演出"。当英伟达Vera Rubin超级芯片的发布占据百度热搜TOP1，当"光刻胶11股集体涨停"霸屏头条财经，与之相伴的是"神 铜"创历史新高、"妖镍"狂飙近9%的金属狂潮。"AI金属""算力铜"等跨界热词的崛起，正在重塑全球产 业价值链，宣告科技与上游资源的深度绑定时代正式来临。 新浪合作大平台期货开户 安全快捷有保障 科技革新是此次价值重估的核心引擎。英伟达Alpamayo自动驾驶AI的"思考推理能力"，本质上是对算 力的极致渴求；英特尔1.8纳米芯片的量产落地，不仅是半导体工艺的突破，更意味着芯片制造对钴、 钨等半导体小金属的需求升级；存储芯片暴涨23%的背后，是AI驱动下云服务商对SSD的爆发式需求， 而这一切都离不开金属材料的支撑。正如市场共识所言，"无铜则算力受限，无算力则AI难进"，单台高 端AI服务器用铜量达15-20kg，是传统服务器的3倍，训练一次大模型的耗铜量堪比37辆电动车，铜已从 传统工业金属跃升为 ...

伦敦金属交易所（LME）三个月期镍周二一度飙升逾10%，触及18785美元/吨的高位，创下三年多来最大盘中涨幅，到收盘，涨近9%，报18524美 元/吨。过去两周内，镍价已累计上涨超过20%，自12月中以来三周内涨近30%。 特朗普政府潜在关税政策持续发酵。据一些报道，美国总统特朗普考虑2027年对进口铜征收约15%的关税，2028年提高至30%。投资者对美国提高关 税的预期导致大量铜库存涌入美国。据CME数据，美国铜库存自2025年4月以来增长超过四倍，截至1月2日达到45.345万吨，而全球其他地区供应告 急。 地缘政治风险推升避险需求。据新华社报道，美国1月3日上周六凌晨对委内瑞拉发起大规模军事行动，突袭委首都加拉加斯等地，强行控制委总统 马杜罗及其夫人，并将二人带至美国。美国强行控制马杜罗引发全球紧张局势加剧，支撑贵金属价格上涨。彭博贵金属分类指数过去一个月涨逾 13%，年初以来涨约5%。 伦镍领涨：中国买盘推动三年最大涨幅 本周二，金属市场延续周一涨势全面爆发。伦镍领衔工业金属大涨，盘中一度涨超10%，纽约期银盘中涨超6%，逼近一周前所创的盘中最高纪录， 伦铜在周一史上首次突破1.3万美元关口后进一 ...

Group 1 - International crude oil prices declined, with West Texas Intermediate (WTI) closing at $56.95 per barrel, down 2.38%, and Brent crude at $60.50 per barrel, down 2.06% [1] - Uranium (U3O8) prices increased to $82.05 per pound, up 0.06% [2] Group 2 - Prices for iron ore showed an upward trend, with 62% grade iron ore at $106.64 per ton, up 0.63%, and 58% grade at $93.72 per ton, up 0.69% [3] - London Metal Exchange (LME) copper futures rose to $13,254.00 per ton, up 1.29%, while aluminum reached $3,134.00 per ton, up 1.42% [3] - Lead prices increased to $2,070.00 per ton, up 2.01%, and zinc to $3,245.50 per ton, up 1.06% [3] - Nickel prices surged to $18,425.00 per ton, up 6.63%, and tin to $44,365.00 per ton, up 4.31% [3] - Gold prices on the New York Mercantile Exchange rose to $4,496.10 per ounce, up 1.12%, while silver increased to $82.55 per ounce, up 7.81% [3] - Platinum prices reached $2,418.40 per ounce, up 7.66%, and palladium at $1,868.50 per ounce, up 8.51% [3]

Market Performance - The Dow Jones and S&P 500 indices reached all-time highs, with the Dow up by 484.90 points (0.99%) closing at 49,462.08 points and the S&P 500 up by 42.77 points (0.62%) closing at 6,944.82 points [2] - The Nasdaq also saw an increase, rising by 151.35 points (0.65%) to close at 23,547.17 points [2] Commodity Prices - Silver prices surged, with spot silver rising by 6.18% to $81.3187 per ounce and COMEX silver futures up by 6.00% to $81.260 per ounce [2] - Platinum and palladium also saw significant increases, with platinum up by 7.27% to $2,458.73 per ounce and palladium up by 6.51% to $1,829.10 per ounce [3] - WTI crude oil futures fell by $1.19 per barrel (2.04%) to $57.13, while Brent crude oil futures dropped by $1.06 per barrel (1.772%) to $60.70 [3] Domestic Commodity Market - The domestic commodity market experienced widespread gains, with coking coal up by 5.61%, glass up by 4.53%, and pure alkali up by 4.15% [5] - Nickel contracts saw a significant increase, with multiple contracts hitting the limit up, and the main nickel contract closing at 147,720 yuan per ton [13] Nickel Market Insights - The recent surge in nickel prices is attributed to Indonesia's reduction of nickel ore quotas and macroeconomic sentiment, with Indonesia planning to cut its nickel production target significantly [15] - Despite the reduction expectations, the global nickel market remains in a state of oversupply, with high inventory levels continuing to exert pressure on prices [16] - The market is characterized by a complex situation of "expected tightening" versus "actual oversupply," with significant inventory levels impacting price dynamics [16][18]