比高盛乐观！花旗看好铜价至1.2万美元，锡价到4万美元

Group 1 - Citi has released a bullish report on commodity prices, predicting copper prices will rise to $11,000 per ton within 0-3 months and reach an average of $12,000 per ton by Q2 2026, which is more aggressive than Goldman Sachs' forecast [1][2] - The report identifies six potential catalysts that could accelerate the $12,000 target, contrasting with Goldman Sachs' range of $10,000 to $11,000 per ton [1][2] - Citi's forecast for tin prices has been raised to $40,000 per ton, with expectations for this price level to be achieved by Q4 2025 and maintained throughout 2026, driven by Indonesia's crackdown on informal mining [2] Group 2 - Goldman Sachs views $10,000 as a "new bottom" for copper prices, supported by structural challenges in supply, with expected annual growth of only 1.5% from 2025 to 2030 [3] - The firm also identifies a "ceiling" at $11,000 due to short-term market concerns, predicting a slight surplus of 180,000 tons in 2026 [3] - Strategic reserves from countries like the US and China could absorb excess inventory, providing downward price protection, but insufficient reserves could risk prices falling below $10,000 [3]