美联储12月降息预期有所回温 铜价重拾升势

Core Viewpoint - The copper market has experienced volatility following a peak in late October, with recent developments indicating a potential rebound due to changing expectations regarding the Federal Reserve's interest rate policies [1][2]. Group 1: Market Dynamics - After reaching a new high for copper contracts on October 30, the Shanghai copper futures entered a downward trend, but by November 24, prices rebounded to 86,080 yuan per ton [1]. - The Federal Reserve's dovish comments from New York Fed President Williams on November 21 have renewed expectations for a rate cut in December, boosting market confidence [1][2]. - The copper price fluctuations are attributed to the Fed's internal divisions and the broader impact of liquidity pressures in global markets [2]. Group 2: Future Outlook - Analysts believe that the current tug-of-war within the Federal Reserve, between conservative and aggressive rate-cutting strategies, creates significant uncertainty for the market [3]. - There is an expectation that copper prices will rebound in the coming quarter, supported by a potential rate cut and the ongoing demand from sectors like AI and data centers [3][4]. - The rapid development of AI is anticipated to drive new demand for copper, particularly in hardware manufacturing and electrical transmission, contributing to future price support [4].