According to the CITIC Construction Investment Research Report, after the Spring Festival holiday, with the exception of gold and tin, which were clearly geographically driven, domestic non-ferrous metals all waited for further guidance from downstream consumption in a volatile manner. On the one hand, downstream returns one after another after January 15, and inventory inflection points will be clear; on the other hand, with the outbreak of the US-Iran conflict, risk aversion is expected to push precious metal prices to continue to rise, while the six Middle Eastern countries, about 7 million tons of electrolytic aluminum, especially Iran's nearly 800,000 tons of electrolytic aluminum, will face a two-way threat from raw material imports and finished product exports, while global aluminum stocks are not strong against shocks, and aluminum prices tend to rise.

According to the CITIC Construction Investment Research Report, after the Spring Festival holiday, with the exception of gold and tin, which were clearly geographically driven, domestic non-ferrous metals all waited for further guidance from downstream consumption in a volatile manner. On the one hand, downstream returns one after another after January 15, and inventory inflection points will be clear; on the other hand, with the outbreak of the US-Iran conflict, risk aversion is expected to push precious metal prices to continue to rise, while the six Middle Eastern countries, about 7 million tons of electrolytic aluminum, especially Iran's nearly 800,000 tons of electrolytic aluminum, will face a two-way threat from raw material imports and finished product exports, while global aluminum stocks are not strong against shocks, and aluminum prices tend to rise.