金属&新材料行业周报：节后复工稳步推进，金属价格强势

Investment Rating - The report maintains a "Positive" outlook on the metals and new materials industry [2] Core Insights - The report highlights a steady recovery in metal prices, driven by the gradual resumption of work post-holiday and strong demand in the industrial metals sector [4][5] - The report emphasizes the importance of monitoring downstream recovery and seasonal demand trends in the steel sector, while also recommending stable dividend-paying stocks [4][5] Summary by Sections Market Overview - The Shanghai Composite Index rose by 1.30%, while the ShenZhen Component Index increased by 1.64% [4] - The non-ferrous metals index fell by 0.09%, underperforming the CSI 300 Index by 1.28 percentage points [5] Price Changes - Industrial metals and precious metals saw varied price movements, with copper prices increasing by 1.65% and aluminum prices decreasing by 1.44% [4][6] - COMEX gold prices reached a new high of $2,950 per ounce, reflecting strong demand and geopolitical factors [4] Key Metal Insights - Copper: Demand is expected to remain strong due to steady downstream recovery, with copper prices likely to trend upwards in the long term [4][5] - Aluminum: The report notes a recovery in aluminum processing enterprises, supporting price increases [4][5] - Steel: The report indicates stable production levels but highlights a slower recovery in downstream demand [4][5] Company Recommendations - The report suggests focusing on companies with stable supply-demand dynamics, such as Zijin Mining, Luoyang Molybdenum, and others in the non-ferrous metals sector [4][5][15]