铜价或将维持高位震荡

Group 1 - Copper prices showed a strong overall trend in October, with significant increases following the National Day holiday due to intensified overseas mining disruptions and rising risk aversion [1] - The Federal Reserve lowered the federal funds rate target range from 4.00%-4.25% to 3.75%-4.00%, marking the second rate cut of the year, while signaling ongoing inflationary pressures and risks in the job market [2] - Domestic smelting plants are planning significant maintenance in November, which will impact refined copper production, with an estimated reduction of over 130,000 tons [3] Group 2 - Cable manufacturing companies have been operating below historical levels due to high copper prices, and this trend is expected to continue into November [4] - The air conditioning industry typically sees increased production in November, but current inventory levels and uncertainties in export demand may limit growth [4] - The automotive industry, particularly driven by the demand for new energy vehicles, is expected to continue its upward trend in production and sales [4] Group 3 - Overall, copper prices are expected to maintain a high-level oscillation in November [5]