Precious metals and industrial raw materials prospects for 2026: CITIC industry near-term outlook forecast

CITIC Securities recently published a detailed study on the major precious metals and industrial metals price trends this year. According to Jin10 sources, the report shows an optimistic outlook for the global precious metals markets, driven by changes in monetary dynamics and investors seeking safe havens.

Gold and Silver: The Appeal of Safe Havens in 2026

According to CITIC forecasts, gold could reach $6,000 per ounce this year, driven by its traditional role as a safe-haven asset. This price increase reflects ongoing global macroeconomic uncertainty and growing investor interest in real assets. Silver is expected to have an even stronger momentum, potentially reaching $120 per ounce, supported by rising industrial demand and a shortage of physical end-asset supply in the market.

Industrial Metals Copper and Aluminum: Supply Constraints Drive Prices in 2026

Copper and aluminum are forecasted to perform strongly, supported by supply chain disruptions and persistent demand from the manufacturing sector. CITIC estimates that copper prices could rise to $12,000 per ton, while aluminum could reach approximately $23,000 per ton during the same period. This increase reflects structurally low stock levels and global production resumption processes, which boost demand for these essential raw materials.

Battery Metals - Lithium and Cobalt: Leading the Green Energy Adoption in 2026

Lithium, critical for energy storage battery production, is projected to see rapid price growth in the range of 120,000 to 200,000 yuan per ton. This dynamic will be driven by the creation of electric transportation infrastructure and continuous growth in renewable energy technologies. Cobalt, with tightly controlled and concentrated supply, is forecasted to range from 400,000 to 500,000 yuan per ton. Nickel markets may see prices rise to $22,000 per ton due to export restrictions in Indonesia, further intensifying competition for these vital battery components.

Strategic Metals - Rare Earths, Tungsten, Aluminum, and Uranium: Global Competition in 2026

Rare earth metals, essential for advanced technology manufacturing, are forecasted with price targets of 600,000 to 800,000 yuan per ton. Tungsten and aluminum, demanded by microelectronics and industry, are expected to reach 450,000-550,000 yuan and 450,000-500,000 yuan respectively. Natural uranium, gaining priority in the context of nuclear energy revival, is projected with a target of $100 per pound. A common feature of all these metals is their strategic importance in the global production chain and limited supply sources, ensuring price stability this year.