本周美国通胀数据强于预期，重燃加息预期并推升美元，铜铝价格走弱；Escondida罢工风险缓解进一步压制铜价。碳酸锂因未来供应增长预期与需求疲软而大跌，下游采购谨慎；钨价因贸易商抛售库存、下游推迟采购而加速下跌。LME与长江铜价周环比分别下跌1.7%和1.0%至14,421美元/吨和110,590元/吨，铜TC/RC进一步降至-240.93美元/吨；LME与长江铝价分别下跌1.5%和0.8%至2,987美元/吨和23,460元/吨，行业平均利润压缩至7,126元/吨；黄金跌0.4%至4,177美元/盎司。碳酸锂暴跌16.5%至102,150元/吨，上海钴跌4.2%至251,000元/吨，U3O8涨0.3%至89.8美元/磅，氧化镨钕涨0.5%至743,300元/吨，钨精矿暴跌18.2%至293,000元/吨。
This week, copper and aluminum weakened as stronger US inflation data revived rate-hike expectations and lifted the dollar. Easing strike risks at Escondida further weighed on copper. Lithium carbonate sold off as expectations of future supply growth and weaker demand outweighed resilient near-term production, with downstream buyers remaining cautious. Tungsten's decline accelerated as traders liquidated inventories and downstream buyers deferred purchases, reinforcing selling pressure. For the week, LME and Changjiang copper prices fell 1.7% and 1.0% WoW to US$14,421/t and RMB110,590/t, respectively, while copper TC/RCs slipped further to -US$240.93/t. Aluminum also weakened, with LME and Changjiang prices declining 1.5% and 0.8% WoW to US$2,987/t and RMB23,460/t, further compressing industry margins to RMB7,126/t. Gold eased 0.4% WoW to US$4,177/oz. Among battery materials, lithium carbonate plunged 16.5% to RMB102,150/t, while Shanghai cobalt fell 4.2% to RMB251,000/t. U3O8 edged up