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[Caixin Futures: Non-ferrous Metals Sector Fluctuates, Precious Metals Weaken, Lithium Carbonate Continues to Face Pressure] ⑴ Shanghai Copper: Increased geopolitical disturbances reignite inflation concerns. With an unstable macroeconomic situation, the market still bets on one more rate hike each from the European Central Bank and the Bank of England this year. Supply remains tight at the mine end in the long term, with refined copper supplies remaining low; demand is mainly driven by immediate needs. Be wary of changes in macroeconomic sentiment, pay attention to US CPI data and the subsequent Fed interest rate path. Copper prices are expected to fluctuate in the short term. ⑵ Shanghai Aluminum: Domestic destocking is progressing rapidly, and the expected commissioning of new overseas aluminum production capacity creates a medium- to long-term supply headwind. With mixed bullish and bearish factors and ongoing macroeconomic disturbances, aluminum prices are expected to fluctuate in the near term. ⑶ Shanghai Zinc: The tight global zinc mine supply situation remains unchanged, and persistently low processing fees at home and abroad provide bottom support. However, demand is characterized by a significant off-season. Zinc prices are expected to fluctuate in the short term due to mixed bullish and bearish factors. ⑷ Precious Metals: Renewed geopolitical disturbances, with the Iranian Islamic Revolutionary Guard Corps Navy announcing the closure of the Strait of Hormuz again, reignited inflation concerns. Precious metal prices weakened today. Despite the market no longer excessively betting on a hawkish Fed policy after the non-farm payroll data release, and limited upside potential for crude oil, the unstable macroeconomic situation and the market's continued betting on one more rate hike each from the ECB and the Bank of England this year suggest that prices are expected to fluctuate weakly in the short term. Attention will be focused on Tuesday's US CPI data. (5) Lithium Carbonate: The main contract closed up 0.07% at 152,240 yuan/ton, with the market continuing to weaken due to expectations of ample future supply and pressure from warehouse receipts. Domestic production in July saw a slight overall decline, with lithium extraction from salt lakes entering its peak production period. While raw material supply from lithium mica companies has recovered, the increase is limited. Zimbabwean lithium mines have resumed shipments, and the raw material shortage before new materials arrive at ports has led some smelting companies to reduce operating rates. Warehouse receipt registrations totaled 339 tons to 42,406 tons. The spot price of battery-grade lithium carbonate fell by 1,000 yuan to 153,450 yuan/ton.