刚果民主共和国正向美国提交一份对美资开放投资的矿产项目清单。 这一行动源于2024年12月4日双方签署的一项协议。根据该协议，美国企业将获得优先渠道，进入刚果 储量丰富的铜、钴、锂和钽等关键矿产资源--这些材料对电动汽车、国防系统和先进电子设备至关重 要。刚果是全球第二大铜生产国，也是钴的最大供应国，而钴是制造电池的关键金属。 历史上，美国企业因担忧冲突、腐败和物流挑战而长期远离刚果市场。 美国承诺投入超10亿美元支持刚果关键矿产供应链建设。 Watum在论坛上对与会者表示："我们本周将向美国发送一份战略项目清单，美国可在这些项目中进行 投资。严格来说，这将是一场商业谈判--绝不是免费赠送，完全不是。" 刚果矿业部长Louis Watum表示，该清单将于本周递交美方，并将成为后续商业谈判的基础。他强调， 刚果不会以优惠条件"赠送"资产。Watum周三在利雅得举行的"未来矿产论坛"（Future Minerals Forum） 上作出上述表态。数周前，两国曾宣布达成一项矿产合作协议，但当时未指明具体矿区。 （文华综合 ） ...

Group 1 - Goldman Sachs indicates that most of the copper price increase has been completed and is increasingly facing the risk of a correction [2] - The forecast for aluminum prices in the first half of 2026 is $2,575 per ton, with upward risks; however, prices are expected to decline as new supplies from Indonesia enter the market by late 2026 or early 2027 [2] - A tightening of nickel ore quotas in Indonesia to 2.6 million tons could lead to an average nickel price close to $18,000 per ton, exceeding the baseline scenario prediction of $14,800 per ton [2] Group 2 - China, as the world's largest copper consumer, faces three major challenges: increasing dependence on foreign resources in the upstream, overcapacity in the midstream processing sector, and downstream demand being suppressed by high copper prices [2] - To assist the industry in addressing these changes, Shanghai Nonferrous Metals Network has collaborated with copper industry chain enterprises to compile a bilingual version of the "2026 China Copper Industry Chain Distribution Map" [2]

沪铜早间小幅低开，随后跌幅不断扩大，目前主力合约下跌超过2%。此前在宏观氛围偏暖和贵金属涨 势带动下，铜价不断刷新高位，虽然矿紧支撑持续存在，但需求疑虑不断加重，今日传来消息，特朗普 表示目前不打算对更多关键矿产征收关税，沪铜出现走弱迹象。 （文华综合） ...

Group 1 - Codelco, the world's largest copper producer, announced that its Ministro Hales copper mine project has received environmental approval to extend its lifespan until 2054, requiring an investment of $2.8 billion [2] - The project aims to increase the mine's annual production from 170,000 tons to 200,000 tons [2] Group 2 - China, as the largest copper consumer globally, faces three major challenges: rising dependence on foreign upstream resources, overcapacity in the midstream processing sector, and suppressed downstream demand due to high copper prices [2] - To assist the industry in navigating these changes, Shanghai Nonferrous Metals Network has collaborated with copper industry enterprises to compile the "2026 China Copper Industry Chain Distribution Map" in both Chinese and English [2]

Group 1 - Codelco, the world's largest copper producer, submitted a $1.3 billion project proposal to extend the operational life of the Radomiro Tomic copper mine until 2058 [2] - The proposal aims to increase the mine's daily production capacity from 675,000 tons to 725,000 tons, requiring expansion of the pit and construction of new waste rock piles and ore storage areas [2] - The plan includes extending the leaching process, maintaining an average daily processing capacity of 154,000 tons, utilizing a method that extracts metals and minerals from ore without smelting or crushing [2] Group 2 - The project plans to transport an average of 20,000 tons of ore or waste rock annually to Codelco's Chuquicamata mine over the next decade [2] - Radomiro Tomic is one of Codelco's three core mines in Chile [2] - The copper industry in China faces three major challenges: increasing dependence on foreign resources, overcapacity in the midstream processing sector, and downstream demand being suppressed by high copper prices [2]

Group 1 - Chile's mining organization indicates that under the new government, the country may break a 20-year production stagnation through regulatory relaxation and streamlining [2] - The president of the National Mining Association (Sonami), Jorge Riesco, agrees with the incoming president José Antonio Kast's team that copper production could increase by 10-20% in the next one to two years [2] - Sonami projects that after a decline to 5.4 million tons last year, copper production is expected to reach 5.5-5.7 million tons this year, with high copper prices potentially stimulating more supply [2] Group 2 - Chile's mining experience reflects global mining industry challenges, with current production levels comparable to those 20 years ago due to declining ore grades and rising project costs [3] - Sonami anticipates that the average copper price will be around $4.50 per pound this year, significantly lower than current levels, as factors driving price increases gradually fade [3] - Total mining investment in Chile is expected to reach $26.8 billion from 2025 to 2029, although spending is projected to decline by about 20% this year [3]

Group 1 - Goldman Sachs raised its 2026 London Metal Exchange copper price forecast to $12,200 per ton from $11,400 per ton due to increased investor inflows, adding a scarcity premium to copper prices amid low inventory coverage outside the U.S. [2] Group 2 - China's copper industry chain faces three major challenges: rising dependence on foreign resources in the upstream, overcapacity in the midstream processing sector, and downstream demand being suppressed by high copper prices [2] - Shanghai Nonferrous Metals Network, in collaboration with copper industry chain enterprises, has compiled a bilingual version of the "2026 China Copper Industry Chain Distribution Map" to assist the industry in navigating changes [2]

Group 1: Copper Market Insights - LME three-month copper price reached a new high of $13,188.5 per ton, up $24.5 or 0.19% on January 14, 2023, following a record high of $13,407 [1] - Over the past 12 months, LME copper prices have increased by 44%, driven by mining disruptions, supply shortage concerns, and potential tariffs affecting metal flows to the U.S. [3] - Analyst Ole Hansen noted that demand for hard assets is remarkable due to concerns over currency depreciation and financial risks, while a closing price below $13,000 could trigger a downward trend in copper prices [3] Group 2: Other Base Metals Performance - LME three-month aluminum price decreased by $11.5 or 0.36%, closing at $3,186.0 per ton [7] - LME three-month zinc price increased by $74.5 or 2.33%, closing at $3,276.0 per ton [8] - LME three-month lead price rose by $17 or 0.82%, closing at $2,078.5 per ton [9] - LME three-month nickel price increased by $1,013 or 5.73%, closing at $18,694.0 per ton [10] - LME three-month tin price surged by $3,934 or 7.94%, closing at $53,462.0 per ton, with speculation driving the price increase [6][4]

Core Viewpoint - The Slovak government aims to restart the Slovalco aluminum plant, which was once one of Europe's largest primary aluminum producers, to reduce dependence on non-European imports and address high electricity prices affecting competitiveness [1][2]. Group 1: Slovalco Plant Details - The Slovalco plant has a maximum capacity of approximately 200,000 tons per year and was closed in August 2022 due to high electricity prices that made production uncompetitive [1]. - The plant's carbon footprint is significantly lower than that of some current aluminum suppliers to Europe, being about one-fifth of theirs [1]. - Local management indicated that production could resume as early as summer if all necessary conditions are met [3]. Group 2: European Aluminum Market Context - Europe's primary aluminum capacity has shrunk to about 1.2 million tons annually after the closure of approximately 1.5 million tons of capacity, with 70%-80% of the annual demand of 6-7 million tons relying on imports, mainly from China and Africa [1]. - Recent supply challenges have arisen from production cuts in Iceland and Mozambique, which are significant aluminum import sources for the EU [4]. Group 3: Government Initiatives and Support - The Slovak government plans to sign a memorandum of understanding with Slovalco to ensure at least 10 years of continued aluminum production, which is the minimum timeframe needed for resuming operations [2]. - The government is advocating for EU-level solutions to address high electricity prices, including potential long-term exemptions from carbon emissions quota payments [2]. Group 4: Market Trends and Pricing - Aluminum prices increased by 11.8% from October to December, with the three-month aluminum price on the London Metal Exchange reaching $3,185 per ton as of January 12, reflecting a rise of $170 since the beginning of the year [5].

Core Viewpoint - Copper prices have shown strong performance recently, reaching new highs before experiencing a slight pullback, influenced by surrounding market trends and domestic stock performance [1] Group 1: Market Dynamics - The recent increase in copper prices is supported by a significant drop in LME copper registered warehouse receipts, which decreased by 25,000 tons to 89,725 tons, the lowest level since mid-July [1] - Non-US inventories remain low, providing support for copper prices despite a recent increase in LME copper inventory [1] - The overall market sentiment in domestic futures and stock markets has been optimistic, contributing to the upward movement in copper prices [1] Group 2: Economic Indicators - The release of moderate US inflation data for December has led to market speculation that the Federal Reserve may maintain its current interest rates in January, supporting expectations for future rate cuts [1] - The potential for the US to impose tariffs on refined copper continues to create a siphoning effect on global copper supplies, with increased exports of refined copper from China in the past two months [1] Group 3: Future Outlook - According to Jinrui Futures, the underlying logic for copper prices remains largely unchanged, with expectations of tight supply not being reversed, and recent disturbances in copper mining have intensified concerns about supply [1] - The overall trend for copper prices is expected to remain strong with potential fluctuations, although there is a short-term risk related to the US Supreme Court's ruling on Trump's tariff policy [1]