利空因素增多 沪铜显露疲态【7月30日SHFE市场收盘评论】

Group 1 - The core viewpoint indicates that copper prices are under pressure due to a combination of factors including the U.S. decision not to impose tariffs on copper raw materials and a hawkish stance from the Federal Reserve, leading to a decline in copper prices [1] - The U.S. has announced a 50% tariff on imported semi-finished copper products and copper-intensive derivatives effective from August 1, which is less severe than previously expected, resulting in a significant drop in U.S. copper prices [1] - China's official manufacturing Purchasing Managers' Index (PMI) for July is reported at 49.3%, a decrease of 0.4 percentage points from the previous month, influenced by seasonal production slowdowns and adverse weather conditions [1] Group 2 - Jinrui Futures notes that the recent tariff implementation may lead to potential logistics recovery, which could result in an oversupply situation, necessitating observation of consumer resilience [2] - If consumption continues to underperform expectations, there is a risk of price declines in the copper market [2]