Profit per ton hits record high, initial signs of inventory reduction emerge—how long will the high prosperity of electrolytic aluminum last? | Fax

①The operating rate of downstream aluminum processing plants increased marginally in April compared to the previous month, and the destocking of electrolytic aluminum inventory has initially begun; ②The sales model of listed companies is predominantly cash-on-delivery with no inventory; ③Industry insiders expect the profitability of electrolytic aluminum to be sustainable, with the high-growth market conditions lasting for at least one year.

cls.cnMay 9 17:44

The lithium price assumption of 200,000 yuan has returned: Energy storage is expected to push supply and demand into a deficit by 2026.

UBS Group has recently raised its forecast for the spot average price of lithium carbonate in China to RMB 200,000 per ton by 2026 and expects it may reach a near-term high of RMB 250,000. The core driver behind this price adjustment is the year-on-year growth of up to 60% in demand for energy storage batteries, while Zimbabwe's export ban has further tightened supply. UBS Group has significantly increased its earnings forecast for industry leaders, which now exceeds market consensus by 56% to 211%.

wallstreetcnMay 8 13:27

JPMorgan: Is Gold Priced at $4,600 Really Expensive?

JPMorgan pointed out that, according to the traditional model (fair value of $1,000-$1,900), gold is significantly overvalued, but this does not mean it is "wrong"—the high premium reflects a rational pricing of geopolitical risks, damaged U.S. dollar credibility, and the failure of the 60/40 portfolio. The real drivers of the rally—the "century rebalancing" of Western pension funds into gold and stagflation trades—have yet to kick in, and $4,600 may be a worthwhile "insurance premium" to pay.

wallstreetcnMay 7 13:48

China's battery production has set new historical peaks for three consecutive months, and lithium prices are expected to remain strong.

①According to survey data from the top 20 battery manufacturers conducted by the Datong Times Think Tank, the total planned production volume of China's lithium battery market (energy storage + power + consumer) in May 2026 is approximately 249GWh, marking a 6.0% increase from the previous month. China’s battery production has set new historical peaks for three consecutive months. ②Huaxi Securities noted that demand and cost factors will provide solid support at the price bottom, and it is expected that lithium carbonate prices will remain strong in the short term.

cls.cnMay 7 08:05

Sharp rise in tin prices amid geopolitical and supply disruptions: What’s next for the market? | Jinshe Futures Hot Chart

From a 40% surge in January to a rapid correction in March, and now regaining upward momentum. A detailed breakdown of the five key cycles of tin price movements is presented in one chart, reviewing the triggers behind each major market movement.

Golden10 DataMay 6 19:36

Tin's "Brittle Cycle," Is AI an Amplifier? | Jinshi Futures Heatmap

Driven by supply shocks and amplified AI demand, the unique cyclical logic of tin is clearly illustrated in one chart.

Golden10 DataMay 6 17:41