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[Caixin Futures: Non-ferrous Metals Sector Fluctuates, Precious Metals Weak, Lithium Carbonate Rebounds Slightly] ⑴ Shanghai Copper: Geopolitical disturbances have reignited inflation concerns. The macroeconomic situation remains unstable, and the market is still betting 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 tonight's 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. Under these mixed bullish and bearish factors, zinc prices are expected to fluctuate in the short term. ⑷ Precious Metals: Geopolitical disturbances have reignited inflation concerns, and precious metal prices are weak today. Although the market is no longer overly betting on a hawkish Fed policy after the non-farm payroll data release, and the upside potential for crude oil is limited, 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 should be paid to the upcoming US CPI data. (5) Lithium Carbonate: The main contract closed up 1.08% at 153,180 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 receipts increased by 497 tons to 42,903 tons, and the spot price of battery-grade lithium carbonate rose by 500 yuan to 153,950 yuan/ton.