花旗：乐观情景下的明年二季度铜均价有望达到每吨14,000美元

Core Viewpoint - Citi is bullish on copper prices over the next six months, projecting an average price of $12,000 per ton by Q2 2026, with an optimistic scenario of $14,000 per ton [2] Group 1: Market Outlook - Global manufacturing confidence remains mixed, and cyclical demand growth faces pressure; however, copper prices are expected to rebound entering 2026 due to loose fiscal and monetary policies in the U.S. [2] Group 2: Challenges in China's Copper Industry - China's copper industry faces three major challenges: increasing dependence on foreign resources in the upstream sector, overcapacity in the midstream processing segment, and downstream demand being suppressed by high copper prices [2]