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。 

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.

基本面仍最好、一季报业绩兑现预期好。锌矿短缺逻辑仍在，冶炼厂停产检修或影响供给。因一季度铅锌价格总体保持高位，相关个股业绩兑现概率大，估值水平总体偏低，可关注驰宏锌锗（600497）、中金岭南（000060）和建新矿业（000688）。

本周有色金属板块整体上涨较好，铜、稀土等子板块领涨，锂电板块较上周有所回落。美联储加息终落地，基本符合市场预期；本周黄金价格自本月初下跌以来出现首次连续上涨，基本金属价格出现普遍回升。从统计局发布的二月份国内经济数据来看，基建投资增速回升、地产投资超预期，在当前基本金属库存低位和整体紧平衡的状态下，价格对供需端预期摆动的敏感性较大，因此更不可忽视需求数据的印证作用。小金属方面，关注长期价格底部品种的供需边际改善，以及细分领域仍存在机会的新能源产业链。

对中国经济周期的判断：是重回2010年还是继续演绎我们曾经说的新常态（城镇化末期，跨过中等收入陷阱）？这个判断决定了投资的方式是调整了买，还是直接空中加油！

本周上证综指上涨 0.77%，沪深 300 指数上涨 0.52%，SW 有色指数上涨1.61%。涨幅居前的个股为寒锐钴业（300618） 61.14%、白银有色（601212）48.61%、翔鹭钨业（002842）12.23%。本周美联储加息落地，基本金属以上涨为主

海绵钛资源综述：据USGS 数据，2015 年我国产量占全球产量的38.75%，位居世界第一。 2016 年全球海绵钛产量预期为17 万吨，同比15 年增长6.25%，我国海绵钛产量预期为6 万吨，同比15 年下降3.23%。据wind 数据，2015 年我国海绵钛产量6.2 万吨，消费量5.8 万吨，过剩0.4 万吨。自2007 年起，我国海绵钛产量开始出现过剩情况，而近年来，过剩产量减少。

In this report, Technavio covers the present scenario and growth prospects of the copper busbars and profiles market in Europe, the Middle East, and Africa (EMEA) for 2017-2021. The report also presents the vendor landscape and corresponding detailed profiles of the top six vendors operating in the market. The base year of the report is 2016, and forecasts are made with respect to the base year. The numbers have been rounded off in some of the cases. We have considered the following downstream products in the parent market for copper.To arrive at the market size, we have considered the volume through the sales of copper busbars and profiles in key applications in EMEA. The report considers the volume through the sales from applications such as control panel and distribution board, transformers, switchgear, and others. Individual market size and forecasts based on applications and geography have been provided with detailed analysis for each segment. Forecasts are based on existing market conditions and the analyst's view on the market.

Nuclear applications held the largest share of the market in 2015, accounting for 95% of the total market. Zirconium alloys are mostly used as materials for cladding nuclear fuel. They are also used for making core structural components for watercooled nuclear power reactors worldwide. 95% of metallic zirconium is used in nuclear reactors to make fuel rods that contain uranium pellets. France, the US,and Russia are the major markets for zirconium in nuclear applications Asia-Pacific (APAC) is the fastest-growing zirconium market with a CAGR of 7.33% and is expected to reach 1.78 million metric tons by 2020. The market is dominated by China, which holds a share of almost 70% of the market. The market in APAC is growing at a fast pace mainly because of increased demand from emerging countries such as China and India and stable demand from major consuming economies such as Japan, Indonesia, and Australia.The ceramics segment accounted for 56.83% of the global zirconium market in 2015. Zircon is used as an opacifier for ceramic tiles, and zircon sand is used as glaze emulsion in ceramics. The key applications of zirconium in the ceramics segment include tableware, sanitary ware, and tiles. Zirconium is also used for manufacturing laboratory equipment as it can withstand high temperatures. It is also used in some diesel and jet engines and is suitable for manufacturing portable devices. For instance, in 2016, Apple patented its protective zirconia enclosure for table devices.

High-performance alloys are a class of alloys that exhibit creep resistance at high temperatures and excellent mechanical strength. These alloys mainly consist copper, lead, titanium, rhenium, chromium cobalt, and nickel as base alloys. They exhibit properties such as resistance to corrosion, resistant to oxidation and sulfidation, heat resistance, and other related properties.