Core Viewpoint - The tin market has experienced explosive growth at the beginning of the year, with prices reaching historical highs, driven by speculative investments despite warnings from industry associations about the unsustainable nature of this surge [1][2][10]. Group 1: Market Performance - Tin prices on the London Metal Exchange (LME) have surged by an astonishing 21% since the beginning of the year, significantly outperforming other metals like nickel and copper [1]. - The trading volume of tin contracts on the Shanghai Futures Exchange exceeded 1 million tons, more than double the global annual physical consumption [2]. Group 2: Supply and Demand Dynamics - Despite the perception of a supply shortage, recent developments indicate an improvement in the supply situation, with key mines in the Democratic Republic of Congo and Myanmar showing signs of increased production [6][8]. - Global refined tin supply is not lacking, as producers and traders have delivered substantial amounts of metal, with combined LME and Shanghai Futures Exchange inventories rising from 11,000 tons to over 19,000 tons [9]. Group 3: Speculative Behavior - The current tin price surge is characterized by speculative behavior, with significant liquidity mismatches in the market, leading to increased volatility [4][11]. - Investment funds have significantly increased their long positions in the tin market, with record levels of 5,753 contracts, equating to 28,765 tons, contributing to the price instability [11]. Group 4: Impact on the Industry - The irrational rise in tin prices has disrupted supply chains, causing challenges for upstream and downstream companies, particularly in sectors like soldering and chemicals, where rising costs have led to operational difficulties [13]. - The influx of funds into the tin market serves as a warning for other metals like copper, indicating potential risks associated with speculative bubbles in industrial metals [14].

Group 1: Report Information - Report title: Nickel Stainless Steel Industry Chain Weekly Report [2] - Report date: January 16, 2026 [2] - Research author: Chen Naixuan Z0023138 [3] - Reviewer: Tang Yun Z0002422 [3] Group 2: Core Views Bullish factors - Indonesia tightens nickel ore quotas, reducing potential supply gaps and providing cost - side support for prices [4] - Market funds flow into base metals, with sufficient commodity capital liquidity, boosting market sentiment [4] Bearish factors - Weak demand: limited boost from new energy vehicles, and downstream purchases on demand, resulting in insufficient consumption - side support [4] - High inventory and long - term oversupply situation remain unchanged, with high levels of LME and domestic visible inventories [4] Trading advisory view - Pay attention to the implementation of Indonesian policies, observe market fluctuations, and avoid blind position - building [4] Group 3: Market Data Nickel futures - The latest value of SHFE Nickel main contract is 146,750 yuan/ton, with a weekly increase of 2,550 yuan and a weekly increase rate of 1.77% [5] - The latest value of SHFE Nickel continuous contract 1 is 146,750 yuan/ton, with a weekly increase of 7,660 yuan and a weekly increase rate of 5.51% [5] - The latest value of SHFE Nickel continuous contract 2 is 147,020 yuan/ton, with a weekly increase of 7,800 yuan and a weekly increase rate of 5.60% [5] - The latest value of SHFE Nickel continuous contract 3 is 147,320 yuan/ton, with a weekly increase of 7,740 yuan and a weekly increase rate of 5.60% [5] - The latest value of LME Nickel 3M is 18,590 US dollars/ton, with a weekly increase of 890 US dollars and a weekly increase rate of 5.55% [5] Nickel trading volume and positions - The position volume is 101,617 lots, a decrease of 22,531 lots or 18.2% [5] - The trading volume is 1,738,133 lots, an increase of 654,931 lots or 60.46% [5] - The number of warehouse receipts is 41,972 tons, an increase of 3,116 tons or 8.02% [5] - The basis of the main contract is - 520 yuan/ton, an increase of 1,100 yuan or a decrease of 67.90% [5] Stainless steel futures - The latest value of stainless steel main contract is 14,415 yuan/ton, with a weekly increase of 560 yuan and a weekly increase rate of 4% [5] - The latest value of stainless steel continuous contract 1 is 14,410 yuan/ton, with a weekly increase of 635 yuan and a weekly increase rate of 4.61% [5] - The latest value of stainless steel continuous contract 2 is 14,415 yuan/ton, with a weekly increase of 555 yuan and a weekly increase rate of 4.00% [5] - The latest value of stainless steel continuous contract 3 is 14,440 yuan/ton, with a weekly increase of 525 yuan and a weekly increase rate of 3.77% [5] Stainless steel trading volume and positions - The trading volume is 489,832 lots, an increase of 233,153 lots or 90.83% [5] - The position volume is 145,444 lots, an increase of 16,708 lots or 12.98% [5] - The number of warehouse receipts is 46,118 tons, a decrease of 1,417 tons or 2.98% [5] - The basis of the main contract is 355 yuan/ton, an increase of 45 yuan or 14.52% [5] Nickel spot prices - The latest value of Jinchuan Nickel is 153,900 yuan/ton, with a daily increase of 3,350 yuan and a daily increase rate of 2.23% [5] - The latest value of imported nickel is 146,500 yuan/ton, with a daily increase of 4,100 yuan and a daily increase rate of 2.88% [5] - The latest value of 1 electrolytic nickel is 150,050 yuan/ton, with a daily increase of 3,600 yuan and a daily increase rate of 2.46% [5] - The latest value of nickel beans is 148,350 yuan/ton, with a daily increase of 4,100 yuan and a daily increase rate of 2.84% [5] - The latest value of electrowon nickel is 146,050 yuan/ton, with a daily increase of 4,050 yuan and a daily increase rate of 2.85% [5] Inventory data - The domestic social inventory of nickel is 61,046 tons, an increase of 2,126 tons [6] - The LME nickel inventory is 285,282 tons, an increase of 624 tons [6] - The stainless steel social inventory is 843.7 thousand tons, a decrease of 10.9 thousand tons [6] - The nickel pig iron inventory is 29,346 tons, a decrease of 879 tons [6] Group 4: Charts and Graphs - Stainless steel futures main contract closing price chart from February 24 to December 25 [7] - Nickel spot average price chart including nickel beans, 1 imported nickel, and SMM 1 electrolytic nickel [9] - Nickel internal and external market trend chart including SHFE Nickel futures main contract closing price and LME Nickel (3 - month) electronic - trading closing price [11] - China's refined nickel monthly production seasonal chart [12] - China's primary nickel monthly total supply (including imports) seasonal chart [12] - Domestic social inventory (nickel plate + nickel beans) seasonal chart [13] - LME nickel inventory seasonal chart [13] - Philippine laterite nickel ore 1.5% (FOB) average price chart [15] - China's port nickel ore inventory by port seasonal chart [15] - China's 8 - 12% nickel pig iron ex - factory price (national average) chart [16] - Ni≥14% Indonesian high - nickel pig iron (arrival duty - paid) average price chart [16] - China's nickel iron monthly production seasonal chart [17] - Indonesia's nickel pig iron monthly production seasonal chart [18] - Battery - grade nickel sulfate average price chart from February 24 to December 25 [20] - Battery - grade nickel sulfate premium chart [22] - Nickel bean production of nickel sulfate profit margin seasonal chart [23] - China's externally - purchased nickel sulfate production of electrowon nickel profit seasonal chart [23] - China's nickel sulfate monthly production (metal tons) chart [24] - Ternary precursor monthly production capacity seasonal chart [24] - China's 304 stainless steel cold - rolled coil profit margin seasonal chart [26] - Stainless steel monthly production seasonal chart [28] - Stainless steel inventory seasonal chart [29]

Core Viewpoint - IperionX has secured nearly A$7 million in funding from the U.S. Department of War, part of a larger US$50 million package, along with a delivery of approximately 290 tonnes of scrap titanium metal from the U.S. government, which is crucial for its Titanium Manufacturing Campus in Virginia [1][2][4]. Group 1: Funding and Material Supply - The funding from the U.S. Department of War is the final tranche of a US$50 million package aimed at supporting IperionX's operations [1][4]. - The delivery of 290 tonnes of scrap titanium provides essential feedstock for the Titanium Manufacturing Campus, representing about 1.5 years of material throughput [2][4]. - IperionX plans to produce at least 1,400 tonnes of titanium annually to support U.S. defense supply chain goals [4]. Group 2: Market Context and Challenges - The critical mineral supply chain, particularly for titanium, is transitioning from a narrative to a structural reality, indicating a growing market interest in tensile metals [3]. - Despite positive developments, short selling pressure on IperionX shares has increased, with nearly 8% of shares currently shorted [5][8]. - The funding assurance from the U.S. government has not significantly deterred short sellers, indicating ongoing market skepticism [8].

Here are two stocks with buy rank and strong income characteristics for investors to consider today, Jan. 15th:Centerra Gold Inc. (CGAU) : This metals mining company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.6% over the last 60 days.This Zacks Rank #1 company has a dividend yield of 1.2%, compared with the industry average of 0.0%.Patria Investments Limited (PAX) : This private equity company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its c ...

21智讯1月15日电，宝地矿业公告，公司于2026年1月16日赎回交通银行蕴通财富定期型结构性存款80天 （挂钩汇率看涨）产品，赎回金额为18,000.00万元，获得收益59.18万元。本金和收益已及时归还至公 司募集资金专户。公司再以19,000.00万元闲置募集资金进行现金管理，其中16,000.00万元购买交通银行 92天结构性存款，3,000.00万元购买交通银行25天结构性存款。该事项不会影响募集资金投资项目进度 和公司正常生产经营。 ...

On a recent episode of the "All-In" podcast, investor Chamath Palihapitiya said that copper is set to go “parabolic” in 2026.His prediction is rooted in a supply shortage and shift toward what he called the “Trump Doctrine” — a geopolitical strategy of unilateral national security and aggressive economic reshoring.FCX stock is climbing. See the chart and price action here. The Macro Driver: The Trump DoctrineThe Trump administration reclassified copper from an industrial metal to a critical pillar of nation ...

On a recent episode of the "All-In" podcast, investor Chamath Palihapitiya said that copper is set to go “parabolic” in 2026.His prediction is rooted in a supply shortage and shift toward what he called the “Trump Doctrine” — a geopolitical strategy of unilateral national security and aggressive economic reshoring.FCX stock is climbing. See the chart and price action here. The Macro Driver: The Trump DoctrineThe Trump administration reclassified copper from an industrial metal to a critical pillar of nation ...

PERTH, Australia--(BUSINESS WIRE)--Rio Tinto and BHP have agreed to work together to extract up to 200 million tonnes of iron ore at their neighbouring Yandicoogina and Yandi iron ore operations in the Pilbara. Under two non-binding Memoranda of Understanding (MOUs), the companies will explore the potential for: These new opportunities build on a 2023 agreement between Rio Tinto and BHP to mine the Mungadoo Pillar, which allowed mining of ore from the shared tenure boundary that was previously inaccessible. ...

Core Viewpoint - The A-share market showed strong performance in the morning session, with all three major indices rising significantly, indicating positive investor sentiment and market momentum [1]. Market Performance - The Shanghai Composite Index increased by 1.2% to 4188.24 points, the Shenzhen Component Index rose by 1.98%, and the ChiNext Index climbed by 2.24% [1]. - The North Stock 50 Index saw a notable increase of 2.96% [1]. - The total market turnover reached 22,459 billion, a decrease of 2,224 billion compared to the previous day [1]. - Over 4,700 stocks in the market experienced gains [1]. Sector Highlights - A joint initiative by eight departments to promote the "Artificial Intelligence + Manufacturing" special action led to a surge in AI application stocks [1]. - The non-ferrous metal sector performed strongly, with companies like Zijin Mining and Jiangxi Copper reaching new highs [1]. - After Bawei Storage announced a performance increase, its stock rose over 7%, contributing to a general rise in storage chip stocks [1].

2026年1月14日，全球金融市场在多空博弈中呈现出复杂而多变的态势。从美股的尾盘走低到A股的调 整与机遇，从贵金属的持续飙升到大宗商品的价格波动，每一个热点都牵动着投资者的神经。 美股：尾盘走低背后的多空博弈 北京时间1月14日凌晨，美股周二尾盘走低，道指跌逾400点。道指跌402.46点，跌幅为0.81%，报 49187.74点;纳指跌67.74点，跌幅为0.29%，报23666.16点;标普500指数跌23.05点，跌幅为0.33%，报 6954.22点。 美股的走低与多方面因素有关。在12月就业报告反映劳动力市场略有走弱但仍保持稳定后，市场目光聚 焦于CPI数据。周二早间公布的消费者价格指数(CPI)报告显示，美国12月CPI同比上涨2.7%，符合预 期。然而，经济学家们对通胀是否已经见顶的看法不一。尽管12月核心通胀压力温和，但食品和房租更 加昂贵，价格涨幅为三年多来最大，这凸显了特朗普总统面临的负担能力危机，经济学家将这部分归咎 于白宫的政策，包括全面进口关税。 圣路易斯联邦储备银行行长Alberto Musalem表示，通胀风险正在缓和，预计今年晚些时候价格将开始 向央行目标靠拢。他认为，经过去 ...