2020年到2025年，福泉全市国民生产总值从192亿增长到316亿，年均增长10%，连续五年位居全省前列。经济总量排位从全省第28位跃升至2024年的第20 位，人均地区生产总值突破10万元大关，高质量发展考核连续4年荣获全省"第一"等次。 "规模工业总产值从2020年的233亿增长到了2025年的568亿，增长了2.4倍，年均增速达19.4%，工业对经济的贡献率从2020年的45%增至2025年的53%，成为 全市经济发展的顶梁柱；去年规模工业总产值从433亿增长到568亿，一年增长了135亿，增速达29.3%。目前，福泉已经形成了以磷系化工、新能源电池材 料为主导产业，金属冶炼加工为特色产业的现代化产业体系。"夏世飞介绍说。 福泉市市长 夏世飞 2025年规模工业总产值达568亿 近年来，福泉市充分发挥磷矿资源富集的比较优势，全面落实"富矿精开"的战略部署，突出大抓产业、大抓项目、大抓招商、大抓经营主体，全市经济社会 发展取得了显著成就。 新能源电池材料实现从无到有从小到大 福泉的工业在"十四五"期间为何能取得这些成绩？这与重大项目、重点企业的支撑密不可分。 "十四五"以来，福泉市抢抓新国发〔2022〕 ...

记者丨李山 编辑丨黄敏 白银有色（601212）股价自2026年1月20日起连续7个交易日涨停，1月29日开盘再次冲击涨停板， 年内涨幅达159.66%， 公司在此期间密集发 布了四次公告，反复提示交易风险。 股价狂欢的背后，是公司信息披露违规的"旧账"。2025年9月11日，白银有色因信披违规被监管立案。 股价异动：搭上板块狂欢的顺风车 2026年对白银市场而言，似乎注定是不平凡的一年。 公司近期行情启动迅猛。股价从1月20日开始连续上涨，一口气拿下7个涨停板，成为市场瞩目的焦点，其股价涨幅不仅远超同期大盘，也显著 高于有色金属板块的平均表现。白银有色表示公司股票可能存在市场情绪过热的情形，交易风险大幅提升。但市场炒作热情似乎并未因此消 退。 翻开白银有色的另一面，公司在2025年因30亿理财信息披露违规被立案调查，最终被处以罚款。股价大涨与公司的基本面及历史问题形成了鲜 明对比。 东方证券的分析报告揭示了市场背景：市场普遍预期贵金属价格将在2026年持续刷新历史纪录。 贵金属价格的上涨被解读为资金对现有法币体系信任的瓦解，买入实物资产被认为是保存财富与规避债务风险的本能反应。 公告阴影：旧疾新罚与"靴子落 ...

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Views - For the nickel market, the supply - demand imbalance persists with high inventory and oversupply. The price is expected to remain in a low - level oscillation, but the downside is limited as it has reached a 5 - year low [1][2]. - For the stainless - steel market, due to low demand, high inventory, and a declining cost center, the price is also expected to stay in a low - level range. Similar to nickel, the current price is at a 5 - year low with limited downside [2][4]. 3. Summary by Related Content Nickel Market - **Market Analysis** - **Futures**: On December 2, 2025, the main contract of Shanghai nickel opened at 117,800 yuan/ton and closed at 118,050 yuan/ton, up 0.49% from the previous trading day. The trading volume was 88,522 (- 57,307) lots, and the open interest was 121,924 (- 967) lots. The recent rebound is a minor repair after previous over - decline, driven by macro - level easing expectations such as the Fed's rate - cut anticipation and improved Sino - US relations. However, the supply - demand imbalance remains, and there is obvious support near the cost line [1]. - **Nickel Ore**: The nickel ore market is quiet with stable prices. In the Philippines, mines are mainly fulfilling previous orders, and the shipping efficiency is okay. Downstream nickel - iron prices are weak, squeezing iron - plant profits, leading to cautious raw - material procurement and some plants considering production cuts. In Indonesia, the December (Phase 1) domestic trade benchmark price dropped by 0.52 - 0.91 dollars/wet ton, and the domestic trade premium is mostly in the range of +25 - 26 [1]. - **Spot**: Jinchuan Group's Shanghai market sales price was 122,300 yuan/ton, down 100 yuan/ton from the previous day. Spot trading was average due to consecutive price rebounds, and the premium of refined nickel brands remained stable. The previous trading day's Shanghai nickel warehouse receipts were 32,351 (- 371) tons, and LME nickel inventory was 253,074 (- 1,290) tons [2]. - **Strategy** - Unilateral: Focus on range - bound operations. - Others: No strategies for inter - period, inter - variety, spot - futures, or options trading are proposed [2]. Stainless - Steel Market - **Market Analysis** - **Futures**: On December 2, 2025, the main stainless - steel contract opened at 12,460 yuan/ton and closed at 12,465 yuan/ton. The trading volume was 95,108 (- 68,491) lots, and the open interest was 102,135 (- 4,171) lots. It showed a low - level oscillating upward trend, similar to Shanghai nickel, and is expected to maintain a range - bound pattern in the short term due to the coexistence of macro support and fundamental pressure [2]. - **Spot**: Affected by the "buy on rising" psychology, stainless - steel spot trading has improved, and prices in Wuxi and Foshan markets have increased by 50 yuan/ton to 12,700 yuan/ton. The 304/2B premium is between 355 - 555 yuan/ton, and the average ex - factory price of high - nickel pig iron remained unchanged at 881.5 yuan/nickel point [3]. - **Strategy** - Unilateral: Neutral. - Others: No strategies for inter - period, inter - variety, spot - futures, or options trading are proposed [4].