格隆汇1月9日丨福蓉科技(603327.SH)公布，为了积极响应国家碳达峰、碳中和目标，推动产业绿色转 型升级，满足公司主要客户在降碳减排方面的要求，巩固公司的市场竞争优势，进一步提升公司的持续 经营能力，促进公司实现高质量发展，公司拟投资56,385万元在公司现有位于四川省成都市崇州市的厂 区内建设绿色低碳铝合金新材料项目。建设2座车间厂房，配置1条25吨电熔铸生产线、4条电挤压生产 线及配套建设供配电系统、循环水系统、供气系统、环保设施及相关公辅设施，主要产品包含年产4万 吨铝合金圆铸锭和年产2.41万吨铝合金新材料（主要用于平板电脑、笔记本电脑等消费电子产品）。同 时将现有三条挤压生产线的燃气加热改为电加热，升级改造一条挤压生产线淬火系统以及增加两条3C 铝材全自动锯切检测线、三台3C铝件高精锯床。 ...

智通财经APP讯，福蓉科技(603327.SH)发布公告，为了积极响应国家碳达峰、碳中和目标，推动产业 绿色转型升级，满足公司主要客户在降碳减排方面的要求，巩固公司的市场竞争优势，进一步提升公司 的持续经营能力，促进公司实现高质量发展，公司拟投资5.64亿元在公司现有位于四川省成都市崇州市 的厂区内建设绿色低碳铝合金新材料项目。 项目将建设2座车间厂房，配置1条25吨电熔铸生产线、4条电挤压生产线及配套建设供配电系统、循环 水系统、供气系统、环保设施及相关公辅设施，主要产品包含年产4万吨铝合金圆铸锭和年产2.41万吨 铝合金新材料(主要用于平板电脑、笔记本电脑等消费电子产品)。同时将现有三条挤压生产线的燃气加 热改为电加热，升级改造一条挤压生产线淬火系统以及增加两条3C铝材全自动锯切检测线、三台3C铝 件高精锯床。 ...

Core Viewpoint - The company plans to invest 564 million yuan in a green low-carbon aluminum alloy new materials project in Chongzhou City, aiming to respond to carbon peak and carbon neutrality goals, promote green transformation and upgrading of the industry, meet customer carbon reduction requirements, and consolidate market competitive advantages [1] Group 1: Project Details - The project includes the construction of two workshop buildings, equipped with electric melting and extrusion production lines and supporting facilities [1] - The main products will be aluminum alloy round ingots and new aluminum alloy materials [1] - The project has completed preliminary project filing and is expected to commence construction on March 20, 2026, with a construction period of 15 months [1] Group 2: Strategic Alignment and Impact - The project aligns with the company's overall development strategy and is expected to have a positive impact on the company's operations once completed [1] - The investment aims to enhance the company's market position in response to increasing demand for low-carbon solutions [1] Group 3: Risks - The project faces market risks, financial risks, and implementation risks [1]

总结，美国上周首次申请失业救济人数低于预期，就业市场压力不明显，市场等待非农数据验证，情绪 谨慎，部分资金获利离场，锌价随有色板块调整。基本面支撑减弱，炼厂复产带动供应恢复，锌锭出口 预期下降，消费淡季且原料涨价抑制采购，社会库存小增。锌价走势取决于宏观及资金面，资金交投降 温，短期维持调整。 （长江有色金属网cjys.cn研发团队 0592-5668838） 新浪合作大平台期货开户 安全快捷有保障 今日沪期锌走势：今日沪期锌震荡偏弱，午后跌幅放缓；沪锌2602主力合约开盘价23960元/吨，最高价 24045元/吨，最低价23750元/吨，昨日结算价24045元/吨，今日收盘价23970元/吨，跌75元，跌幅 0.31%。今日沪锌2602主力合约成交量143227手减少8584手，持仓量76607手减少7144手。伦锌北京时 间14：51最新价报3158美元，涨27美元。 今日ccmn锌价统计：今日ccmn长江综合0#锌价报24000-24100元/吨，均价24050元，跌150元，1#锌价报 23910-24010元/吨，均价23960元，跌150元；广东现货0#锌报23660-23960元/吨，均价23 ...

有色商品日报 有色商品日报（2026 年 1 月 9 日） 一、研究观点 | 品 种 | 点评 | | | --- | --- | --- | | | 隔夜内外铜价震荡回落，国内精炼铜进口维系亏损。宏观方面，美国首次申请失业救济 | | | | 人数为 20.8 万人。该数据虽较前值 19.9 万人小幅回升，但仍低于市场预期的 21.2 | 万 | | | 人，现实劳动力市场基本面的稳固。美联储的报告显示，消费者预计未来一年物价将上 | | | | 涨 3.4%，高于 11 月的 3.2%。美联储内部官员继续存在较大分歧，一部分官员更担忧通 | | | | 胀问题，另一部分则认为失业率上升才是更大的风险，导致月底的美联储会议降息预 | | | 铜 | 期仍不明朗。库存方面，LME 库存下降 2150 吨至 141075 吨；Comex 库存增加 2255 | 吨 | | | 至 467165 吨；SHFE 铜仓单增加 12211 吨至 108685 吨，BC 铜维持 1053 吨。需求方 | | | | 面，因铜价持续高位，终端订单有所放缓，市场维系刚性采购需求。随着淡季到来，国 | | | | 内进入累库阶 ...

期货行情： | | | | 1月9日上海期货交易所休盘行情 (10:15) | | | | | --- | --- | --- | --- | --- | --- | --- | | 品种 | 最新价 | 涨跌 | 开盘价 | 最高价 | 最低价 | 昨年 | | 沪铜2602 | 100830 | -1040 | 101660 | 101890 | 98770 | 101870 | | 沪铝2602 | 24255 | 240 | 23900 | 24260 | 23430 | 24015 | | 重化铝2605 | 2829 | -23 | 2863 | 2867 | 2781 | 2882 | | 铸造铝2603 22960 | | 140 | 22720 | 22960 | 22180 | 22820 | | 沪锌2602 | 23940 | -105 | 23960 | 23990 | 23750 | 24045 | | 沪铝2602 | 17330 | -190 | 17350 | 17390 | 17235 | 17520 | | 沪镜2602 | 138250 | -4660 | 136440 ...

1. Report Industry Investment Ratings - Gold: Long - term holding. ★★ [1] - Silver: Long - term holding. ★★ [1] - Copper: Long - term holding. ★ [1] - Zinc: Under pressure. ★ [1] - Lead: Under pressure and decline. ★ [1] - Tin: Under pressure. ★ [1] - Aluminum: Under pressure. ★ [1] - Nickel: Under pressure and decline. ★ [1] - Industrial silicon: Cautiously bearish. ★ [1] - Polysilicon: Cautiously bearish. ★ [1] - Lithium carbonate: High - level adjustment. ★ [1] 2. Core Views of the Report - Precious metals: Long - term and short - term factors are intertwined. The long - term logic for gold and silver is to go long, but short - term price fluctuations are affected by factors such as index rebalancing, margin hikes, and resource scarcity [1][2][4]. - Copper: In the short term, the long - positions should take profits on rallies. In the long term, it is optimistic due to supply shortages and growing green demand [1][6][7]. - Zinc: In the short term, the long - positions should take profits on rallies. It is expected to fluctuate widely in January. Enterprises are advised to arrange short - hedging [1][9][10]. - Aluminum: In the short term, it is advisable to take profits and wait and see. Pay attention to the change in aluminum ingot social inventory [1][13][14]. - Nickel: It is advisable to take profits and wait and see. Pay attention to Indonesian policies and stainless - steel inventory changes [1][17][18]. - Lithium carbonate: It is in a high - level adjustment. Long - positions can take profits gradually on rallies [1][20][21]. 3. Summary by Related Catalogs Gold and Silver - **Market performance**: Precious metals are fluctuating at high levels. SHFE gold decreased by 0.10% to 997.94, COMEX gold increased by 0.47% to 4488. SHFE silver decreased by 4.35% to 18450, COMEX silver decreased by 1.65% to 77 [2]. - **Influencing factors**: China's central bank continues to purchase gold. US employment data is mixed, and the service industry PMI is rising. The rebalancing of the Bloomberg Commodity Index may cause selling pressure on gold and silver futures [3][4]. - **Strategy recommendation**: The short - term support for silver is at 18000, and for gold is at 990. In 2026, the support for precious metals remains strong, and the long - term logic of going long remains unchanged [4]. Copper - **Market performance**: Copper is oscillating at high levels. The closing price of SHFE copper main contract decreased by 1.61% to 100230 yuan/ton [5]. - **Industry logic**: The global supply of copper concentrates is continuously tight. The production of some mines is affected. The domestic electrolytic copper output in December is high, but it is expected to decline in January. High copper prices suppress demand, but new demand in some fields is strong [6]. - **Strategy recommendation**: In the short term, the long - positions should take profits on rallies. The short - term range for SHFE copper is [98500, 102500] yuan/ton, and for LME copper is [12500, 13500] dollars/ton [7]. Zinc - **Market performance**: Zinc is falling back in oscillation. The closing price of SHFE zinc main contract decreased by 1.02% to 23800 yuan/ton [8]. - **Industry logic**: The global zinc ore supply may shrink in 2026. The domestic zinc concentrate processing fee has declined. The production of refined zinc in December decreased. The demand in some traditional fields is weak, but new - energy demand is growing [9]. - **Strategy recommendation**: In the short term, the long - positions should take profits on rallies. It is expected to fluctuate widely in January. Enterprises should arrange short - hedging. The range for SHFE zinc is [23500, 24000] yuan/ton, and for LME zinc is [3100, 3200] dollars/ton [10]. Aluminum - **Market performance**: Aluminum prices are falling back under pressure. The closing price of LME aluminum decreased by 0.41% to 3071 dollars/ton, and the closing price of SHFE aluminum main contract decreased by 2.61% to 23725 yuan/ton [11]. - **Industry logic**: The daily output of electrolytic aluminum is increasing. The inventory of electrolytic aluminum and aluminum rods is rising, and the downstream demand is weak. The alumina market is in surplus [13]. - **Strategy recommendation**: In the short term, it is advisable to take profits and wait and see. Pay attention to the change in aluminum ingot social inventory. The main operating range of SHFE aluminum is [23000 - 24500] [14]. Nickel - **Market performance**: Nickel prices are falling back. The closing price of LME nickel decreased by 2.69% to 17180 dollars/ton, and the closing price of SHFE nickel main contract decreased by 7.64% to 136440 yuan/ton [15]. - **Industry logic**: Indonesia has significantly reduced its nickel ore production target in 2026. The nickel inventory is at a high level. The stainless - steel market is in the off - season, and the inventory has decreased slightly [17]. - **Strategy recommendation**: It is advisable to take profits and wait and see. Pay attention to Indonesian policies and stainless - steel inventory changes. The main operating range of nickel is [125000 - 145000] [18]. Lithium Carbonate - **Market performance**: The main contract LC2605 opened low and went high, hitting a new high during the session, and the gains narrowed at the end [19]. - **Industry logic**: The weekly output has increased slightly. The downstream demand provides support, but the production of some downstream factories is decreasing [20]. - **Strategy recommendation**: It is operating at a high level in the range of [135000 - 150000] [21].

1. Report Industry Investment Ratings No information about industry investment ratings is provided in the reports. 2. Core Views of the Reports Tin Industry - Short - term tin prices are highly volatile due to macro - sentiment, and it is recommended to be cautious in operations. Tin prices are expected to fluctuate at a high level in the short term [2]. Aluminum Industry - Alumina prices are expected to fluctuate widely around the industry's cash - cost line. The aluminum price will maintain a high - level wide - range shock, with the main contract of Shanghai aluminum operating in the range of 23,000 - 24,200 yuan/ton [5]. Nickel Industry - The nickel price has fallen significantly. The market is affected by Indonesia's unclear nickel - mine quota and geopolitical risks. The short - term price will be in a wide - range shock adjustment, with the main contract referring to the range of 130,000 - 135,000 [6]. Stainless Steel Industry - The stainless - steel market is affected by nickel - mine raw - material expectations. The supply pressure eases slightly, but the demand in the off - season is still insufficient. The short - term price is expected to be in a shock adjustment, with the main contract referring to the range of 13,200 - 14,000 [9]. Aluminum Alloy Industry - The ADC12 price of aluminum alloy is expected to continue to fluctuate in a high - level range in the short term, with the main contract referring to the range of 22,000 - 23,200 yuan/ton [12]. Lithium Carbonate Industry - The lithium - carbonate market's fundamentals are weak in the off - season, but the post - holiday news boosts the sentiment. The price is expected to maintain a relatively strong shock, and attention should be paid to the liquidity risk and regulatory possibility [13]. Copper Industry - The medium - and long - term fundamentals of copper are good, but the short - term price is over - valued irrationally. The short - term price will still maintain a relatively strong trend, and the volatility may increase [15]. Zinc Industry - The zinc price will fluctuate in the short term. The support comes from the tight domestic zinc - mine supply and low zinc - ingot inventory, and the pressure comes from the expected supply of imported ores [17]. Industrial Silicon Industry - The industrial - silicon market is expected to be in a situation of weak supply and demand in January. The price is expected to fluctuate at a low level, with the main range of 8,000 - 9,000 yuan/ton [20]. Polysilicon Industry - The polysilicon market has weak supply - demand fundamentals and high inventory. It is recommended to wait and see, pay attention to the increase in production cuts and the re - distribution of industrial - chain profits [22]. 3. Summaries According to Relevant Catalogs Tin Industry - **Price and Spread**: SMM 1 tin decreased by 0.25% to 355,050 yuan/ton, and the SMM 1 tin premium increased by 128.57% to 800 yuan/ton. The 2601 - 2602 spread increased by 72% to - 350 [2]. - **Fundamentals**: In November, tin - ore imports increased by 29.81%. In December, SMM refined - tin production decreased slightly by 0.06%. SHEF and social inventories decreased [2]. Aluminum Industry - **Price and Spread**: SMM A00 aluminum decreased by 0.58% to 24,000 yuan/ton. The AL 2601 - 2602 spread increased by 70 yuan/ton to 60 yuan/ton [5]. - **Fundamentals**: In December, electrolytic - aluminum production increased by 3.97%. The social inventory of aluminum ingots increased by 8.18% [5]. Nickel Industry - **Price and Spread**: SMM 1 electrolytic nickel decreased by 0.73% to 149,050 yuan/ton. The 2602 - 2603 spread decreased by 310 yuan/ton to - 530 yuan/ton [6]. - **Fundamentals**: China's refined - nickel product output decreased by 9.38%, and imports increased by 30.08%. SHFE and social inventories increased [6]. Stainless Steel Industry - **Price and Spread**: The 304/2B (Wuxi Hongwang 2.0 roll) price decreased by 1.08% to 13,800 yuan/ton. The 2602 - 2603 spread decreased by 30 yuan/ton to - 140 yuan/ton [9]. - **Fundamentals**: China's 300 - series stainless - steel crude - steel production decreased by 2.5%. The net export volume increased by 25.31% [9]. Aluminum Alloy Industry - **Price and Spread**: SMM Southwest ADC12 increased by 0.43% to 23,600 yuan/ton. The 2602 - 2603 spread increased by 35 yuan/ton to - 45 yuan/ton [12]. - **Fundamentals**: In December, the output of recycled aluminum alloy ingots decreased by 6.16%. The recycled - aluminum alloy inventory decreased slightly [12]. Lithium Carbonate Industry - **Price and Spread**: SMM battery - grade lithium carbonate increased by 3.75% to 138,500 yuan/ton. The 2602 - 2603 spread decreased by 100 yuan/ton to - 540 yuan/ton [13]. - **Fundamentals**: In December, lithium - carbonate production increased by 4.04%, and demand decreased by 2.5%. Total inventory decreased by 12.23% [13]. Copper Industry - **Price and Spread**: SMM 1 electrolytic copper decreased by 1.28% to 102,085 yuan/ton. The 2601 - 2602 spread decreased by 10 yuan/ton to - 250 yuan/ton [15]. - **Fundamentals**: In December, electrolytic - copper production increased by 6.8%. The domestic mainstream port copper - concentrate inventory decreased by 16.65% [15]. Zinc Industry - **Price and Spread**: SMM 0 zinc ingot decreased by 0.53% to 24,170 yuan/ton. The 2601 - 2602 spread decreased by 30 yuan/ton to - 45 yuan/ton [17]. - **Fundamentals**: In December, refined - zinc production decreased by 7.24%. The social inventory of zinc ingots increased by 11.69% [17]. Industrial Silicon Industry - **Price and Spread**: East - China oxygen - containing SI5530 industrial silicon remained unchanged at 9,250 yuan/ton. The 2601 - 2602 spread increased by 445 yuan/ton to 440 yuan/ton [20]. - **Fundamentals**: National industrial - silicon production decreased by 1.15%. Xinjiang's production increased by 6.46%. Social inventory decreased by 0.9% [20]. Polysilicon Industry - **Price and Spread**: The main - contract price of polysilicon decreased by 8.04% to 53,610 yuan/ton. The current - month - to - first - continuous spread increased by 1,215 yuan/ton to 1,415 yuan/ton [22]. - **Fundamentals**: Polysilicon production decreased slightly by 0.83% on a weekly basis. The silicon - wafer inventory increased by 13.11% [22].

有色金属日报 2026-1-9 五矿期货早报 | 有色金属 有色金属小组 吴坤金 从业资格号：F3036210 交易咨询号：Z0015924 0755-23375135 wukj1@wkqh.cn 曾宇轲 从业资格号：F03121027 交易咨询号：Z0023147 0755-23375139 zengyuke@wkqh.cn 张世骄 从业资格号：F03120988 交易咨询号：Z0023261 0755-23375122 zhangsj3@wkqh.cn 王梓铧 从业资格号：F03130785 0755-23375132 wangzh7@wkqh.cn 刘显杰 从业资格号：F03130746 0755-23375125 liuxianjie@wkqh.cn 陈逸 从业资格号：F03137504 0755-23375125 cheny40@wkqh.cn 陈仪方 从业资格号：F03152004 0755-23375125 chenyf3@wkqh.cn 市场监管总局约谈 6 家光伏企业，国内商品情绪有所降温，昨日伦铜 3M 收跌 1.27%至 12072 美元/ 吨，沪铜主力合约收至 100230 元/吨。L ...

有色商品日报 有色商品日报（2026 年 1 月 8 日） 一、研究观点 | 品 种 | 点评 | | --- | --- | | | 隔夜内外铜价震荡回落，国内精炼铜进口维系亏损。宏观方面，美国 12 月 ISM 服务业 | | | PMI54.4 创一年多最高，需求稳健，招聘回暖；美国 12 月 ADP 就业人数增长 4.1 万人， | | | 扭转前月下滑趋势。美近期公布的经济和就业数据显示出自 11 月政府停摆以来的经济 | | | 回暖信号，但对未来的指引仍然较弱。库存方面，LME 库存下降 2850 吨至 143225 吨； | | 铜 | Comex 库存增加 3256 吨至 464910 吨；SHFE 铜仓单增加 3203 吨至 96474 吨，BC 铜维 | | | 持 1053 吨。需求方面，因铜价持续高位，终端订单有所放缓，市场维系刚性采购需求。 | | | 昨晚市场分歧加大，贵金属和有色板块开始出现降温，这也是近期部分品种再次出现 | | | 过热现象后多头获利了结的结果，笔者认为有序调整后有利于后续行情的发展，关注 | | | 持续性。 | | 铝 | 隔夜氧化铝震荡偏弱，隔夜 AO ...