Core Viewpoint - The London Metal Exchange (LME) copper prices rose due to a weaker dollar and expectations of further interest rate cuts by the Federal Reserve [1] Group 1: Market Performance - On October 15, LME three-month copper increased by $63, or 0.6%, closing at $10,641 per ton [1] - Other base metals also saw price increases, with three-month aluminum up by $8.50 (0.31%), zinc up by $6.50 (0.22%), lead up by $0.50 (0.03%), tin up by $204 (0.58%), and nickel up by $59 (0.39%) [2] Group 2: Supply and Demand Dynamics - Concerns over reduced copper supply from Indonesia, the Democratic Republic of Congo, and Chile have contributed to a recent price surge, with copper reaching a 16-month high of $11,000 on October 9 [4] - Morgan Stanley's commodity strategist indicated that further changes in the market could lead to tighter conditions by the end of the year [4] - Fitch Solutions raised its 2025 average copper price forecast to $9,650 per ton, up from a previous estimate of $9,500, citing ongoing supply disruptions and strong industrial demand [4] Group 3: Market Premiums and Inventory - The premium of LME spot copper contracts over three-month contracts has been declining, with a recent peak of $227, the highest since June [4] - The premium for LME spot zinc contracts decreased from $202 to $150 per ton, indicating tight inventory levels, which are at their lowest since the beginning of 2023 [4]
金属普涨，期铜窄幅波动，受美元走软和美联储降息押注支撑【10月15日LME收盘】
Wen Hua Cai Jing·2025-10-16 00:34