Xuan Gu Bao·2025-06-27 02:35Group 1 - The copper sector experienced a localized rally on June 27, with notable stocks such as Electric Alloy and Northern Copper hitting the daily limit, while companies like Luoyang Molybdenum, Jiangxi Copper, Western Mining, and Yunnan Copper also showed strong performance [1] - Northern Copper's stock price rose to 10.31, reflecting a 10.03% increase, while Jiangxi Copper and Luoyang Molybdenum saw increases of 5.94% and 5.57%, respectively [2] Group 2 - On June 27, the main copper futures contract opened higher and rose over 1.6% during the trading session, driven by a significant drop in LME inventory, which has decreased by approximately 80% this year [3] - Goldman Sachs reported that since the U.S. Section 232 copper import investigation, around 400,000 tons of copper have been imported, indicating a potential shortage in non-U.S. regions, and raised its 2025 LME copper price forecast from $9,140 to $9,890 per ton [3] - The current premium for spot copper over three-month futures reached $280 per ton, the highest level since 2021, indicating strong demand [3] Group 3 - The global refined copper supply is expected to shift from a surplus of 100,000 tons to a deficit of 100,000 to 200,000 tons by 2025, exacerbated by U.S. tariffs on copper, which have led to increased demand for refined copper [4] - Domestic consumption is expected to weaken as the peak season ends, with market participants generally adopting a buy-on-dips strategy, while some trading firms face cash flow pressures [4] - Long-term outlook remains bullish on copper due to ongoing geopolitical tensions and the strategic importance of copper as a resource, despite short-term supply challenges [4]