The metal injection molding market was valued at USD 2,162.6 million in 2015 and is expected to reach USD 6,522.4 million by 2025, growing at a CAGR of 11.9% from 2016 to 2025. The metal injection molding technique is preferred as it can manufacture a large quantity of components with accurate mechanical properties at a low cost. The process avoids expensive secondary operations, maintains high product tolerance levels, and provides excellent surface finishes.

There were 4,300 registered enterprises in the basic metals segment and 41,000 in the metal products segment as of end-2017, according to data from the Russian statistics office. Nevertheless, the Russian metal processing sector is highly consolidated, with a few companies responsible for most of the country’s metal production. Since 2014, many companies have restructured their businesses by selling ineffective assets and by investing in more efficient and profitable technologies. M&A activity has also increased: in 2016 there were just eight M&A and equity capital market (ECM) deals in the sector worth some USD 296mn, but in 2017 their number increased to 26, valued at USD 5bn.

2018Q2 基金有色金属行业重仓持股市值占股票投资市值比大幅下滑至1.55%，基金在二季度对有色金属行业减持明显。2018Q2 基金有色金属行业重仓持股市值占股票投资市值比为1.55%，环比2018Q1 的2.11%减少0.56 个百分点。从标配水平看，基金2018Q2 对有色金属行业的配置属于低配水平。2018Q2基金对有色金属行业重仓持股市值占股票市值比为1.55%，而同期有色金属流通市值/A 股流通市值比为3.04%，基金对有色金属行业的配置属于低配的水平，且低配偏离度在二季度的减持后较2018Q1 环比大幅拉大。2018Q2 基金仍然重仓新能源汽车产业链上游资源端的钴锂个股，但配置比例较2018Q1 边际大幅下滑。

The production of base metals in Indonesia stagnated in 2016 as oversupply on the global markets depressed metal prices. Additionally, demand from China, which traditionally accounts for about 50%- 60% of global metal consumption, weakened in 2015-2016 and led to worsening sector economics. In 2016, Indonesia’s aluminium ingot production decreased by 4.5% y/y to 245,500 tonnes, crude steel output declined by 2.2% y/y to 4.7mn tonnes, while tin metal and nickel volumes shrank by 10.3% y/y and 4.5% y/y, respectively.

6 月动力电池装机量同比增 12%，锂价下滑，长江钴微跌至 52.5 万元/吨， MB 钴折人民币约 62.75-66.13 万元/吨，美国制裁古巴或推动钴价上涨；铜矿罢工一触即发，价格有望反弹；库存低位，沪锌反弹 3.13%；6 月中国电解铝产能利用率 86%；1-5 月全球镍市供应缺口为 6.96 万吨；美国经济复苏强劲，加息预期加强，金价短期承压；电解锰继续涨价 4.66%。核心关注：锂钴（寒锐钴业、华友钴业、天齐锂业、赣锋锂业、盛屯矿业、威华股份），铜（紫金矿业、西部矿业、洛阳钼业等），稀土（盛和资源），铅锌（驰宏锌锗），锡（锡业股份、兴业矿业）。 

随着补贴政策调整，下半年高续航里程的新能源汽车有望不断放量；根据历史情况，新能源中游会在需求高峰前进行补库，三季度排产增加的同时，有望进行补库，从而拉动锂和钴的需求。钴的供给较为刚性，国内严查环保可能造成钴盐产量下降，供需缺口再次拉大，从而带动钴价上涨。锂资源逐步放量，根据西澳主要锂矿公司的公告情况，18 年西澳主要放量地区的几个主力矿山放量时间出现调整，实际产量可能低于此前预期，三季度补库需求可能同样带来锂价的反弹。 

Escondida 下降将迎来最后谈判日期，如若不成，罢工可能性将大幅提升。近期铜矿企业收到意外干扰较多。铜精矿持货商挺价积极性开始明显增强。预计近期 TC 将会有所僵持，近期 TC 走势需要聚焦劳资谈判进展。4-6月传统消费旺季，铜库存去化不顺畅。

The metal injection molding market was valued at USD 2,162.6 million in 2015 and is expected to reach USD 6,522.4 million by 2025, growing at a CAGR of 11.9% from 2016 to 2025. The metal injection molding technique is preferred as it can manufacture a large quantity of components with accurate mechanical properties at a low cost. The process avoids expensive secondary operations, maintains high product tolerance levels, and provides excellent surface finishes. The demand for consumer products is projected to grow at the highest CAGR from 2016 to 2025. The growing demand for accessories, electronics, lighting cables, mobile phones, and sporting products is expected to boost the demand for metal injection molding process in the consumer products segment.

The market dynamics section of the report examines the diverse factors which govern the demand and supply of devices and materials in the silicon germanium material & devices market. This analysis will provide an in-depth understanding of the direction in which the market is headed and the impact of various factors on the same. This section covers the market dynamics – namely the drivers, restraints, and the opportunities in the silicon germanium market, listing and analyzing several factors that positively and negatively affect the market.

虽然中国出口之有色金属产品价格竞争压力仍高，且本产业铝金属出口受到美国贸易保护政策影响，不过，由于国内经济维持平稳，加上国际基本金属报价走高，带动本产业产品报价持续涨势，有助于国内制造业对基本金属需求温和扩增，故估计2018年第一季本产业产、销值将较2017年同期呈现小幅成长。