智通财经网·2025-08-05 03:39Group 1: Copper Industry Performance - Most copper stocks have risen, with Minmetals Resources up 2.61% at HKD 3.93, Luoyang Molybdenum up 1.53% at HKD 9.31, Jiangxi Copper up 0.82% at HKD 16.02, and Zijin Mining up 0.74% at HKD 21.82 [1] - The copper market sentiment has been boosted by the recent mining accident in Chile, which resulted in the death of 6 individuals, including 5 trapped miners [1] Group 2: Impact of Chilean Mining Accident - Codelco has initiated an investigation into the cause of the mining accident, and all underground operations have been halted [1] - The affected mine accounts for over 25% of Codelco's total production, which was 356,000 tons of copper last year [1] - It remains unclear how long the production halt will last and whether it will impact the company's production targets [1] Group 3: U.S. Copper Import Tariffs - On July 30, former U.S. President Trump signed an announcement addressing the impact of copper imports on national security, imposing tariffs on certain copper products [2] - The tariffs do not restrict copper raw materials, leading to the disappearance of the COMEX copper premium [2] - U.S. copper imports have already exceeded last year's total, with 74.3% of imports being unaffected by tariffs, suggesting that copper will be redirected to markets outside the U.S., such as Europe and Asia [2] Group 4: Market Dynamics - It is expected that traders will no longer continue shipping copper to the U.S., affecting the supply dynamics [2] - LME copper is currently experiencing inventory accumulation, while domestic demand is weak due to the off-season, indicating that demand resilience may become a pricing factor for copper [2]