The global aluminum plates and sheet coils market is expected to grow at a CAGR of 3.52% during 2016-2020. This is attributable to the growing demand from building and construction, food and beverages, and automobiles and transportation segments. Aluminum plates and sheet coils can be used to build lighter yet stronger cars. The metal guarantees an optimum combination of weight, strength,efficiency, and performance with lower fuel consumption, easy recycling at the end of a vehicle's life, and less emission of toxic gases during processing.The food and beverages segment is the largest consumer in the market. The segment accounted for a share of 36.97% in the global market in 2015. Sheet coils are significantly used in packaging of food and beverages as they extend the shelf life of these products.The market in Asia-Pacific (APAC) is the fastest growing (CAGR: 4.3%) and the largest (44.34%) globally. China is the major producer and consumer of aluminum.The market is driven by an increase in construction activities. The construction market in APAC grew at a CAGR of 5.5% during 2010-2015. The expenditure on construction has peaked in the main emerging markets, and investments in infrastructure development in advanced economies such as Japan, South Korea, and Australia increased by over 2% on average, thereby driving the market growth.

近期，我们对全球碳酸锂供需平衡表进行了重构和更新，总体结论有三个，一是需求保持快速增长，主要驱动力是中、美新能源车的高速增长，2017-2019 年全球锂需求预计为 23.89 万吨、28.05 万吨和 34.73 万吨，同比增速为 21%、17%和 24%；二是供给放量温和，2017-2019 年全球锂供给预计为 23.56 万吨、28.06 万吨和 36.22 万吨，同比增速为 17%、19%和 29%；三是供需平衡量分别为-3348 吨、116 吨以及 14,897吨，即 2017-2018 年将维持紧平衡状态，2019 年供给会逐渐超过需求。 

特别是锌再度逼近高点，推荐西藏珠峰、中金岭南，低风险偏好可关注盛达矿业、盛屯矿业。周期品铜锌等价格上半年整体大幅震荡为主，伴随价格重心慢慢上移。波段操作非常重要，短期工业金属买点窗口短暂打开。 

对于有色行业我们的观点是：贵金属可能受各种风险事件影响大幅波动，整体趋势仍偏空，宜规避；小金属中酝酿新经济，成长性强，应予以重视；基本金属中，锌基本面较好，铝在交通行业消费潜力大，建议关注。 

3 月份锡价格保持小幅涨势，LME锡价从3月初的 19525 美元/吨，上涨至 3月 27日的 19900 美元/吨，涨幅 1.92%， 3 月份镍价格大致成 L 型走势，LME 锡价从月初的 11035 美元/吨经过一段时间的盘整后迅速下滑，全月跌幅 10.47%，均价 10323.16 美元/吨，均价同比下跌3.80%。

安新区无疑是热议话题，对有色影响核心在于京津冀周围供给侧改革深化，如电解铝采暖季错峰生产利多金属价格：周边河南、河北、山东和山西涉及全国将近 30%产能。需求端而言，可以看出中国基建潜力仍大，3 月 PMI51.8，经济扩张依旧；同时美国 3 月制造业 PMI为 53.4，反映在库存端则是连续两周 LME 和沪铜库存下降。特别提醒：新进资源股【金城信】跌近员工增持价，是不错的投资标的。