Group 1 - Copper stocks showed strong performance in early trading, with notable increases in share prices for companies such as Luoyang Molybdenum (up 5.18% to HKD 16.05), China Nonferrous Mining (up 4.36% to HKD 14.11), and Jiangxi Copper (up 2.78% to HKD 32.52) [1] - Citigroup's report indicates that copper consumption growth remains weak, with only a 1.3% year-on-year increase in August, falling short of the strong performance driven by China's solar industry in the first half of the year [1] - Citigroup expects copper prices to rise to USD 12,000 per ton in Q2 of next year, supported by stronger cyclical demand, supply constraints, currency devaluation risks, and U.S. arbitrage activities [1] Group 2 - New Lake Futures reported that the recent "15th Five-Year" announcement significantly boosted market sentiment, leading to a broad increase in commodity prices and strong copper price performance [2] - The Freeport Indonesia mine incident has resulted in production cuts that exceeded market expectations, shifting the global copper supply-demand balance towards a tight equilibrium by 2026 [2] - The macroeconomic environment is favorable, with the Federal Reserve having initiated interest rate cuts, and expectations of two more cuts within the year, alongside fiscal stimulus from the "Big and Beautiful" plan in the U.S. [2]
铜业股早盘走强 花旗看好未来6至12个月铜价 铜市基本面迎多因素共振
Zhi Tong Cai Jing·2025-10-24 01:55