伦铜触及一周高位，受库存流向美国支撑

Group 1 - LME copper prices reached a one-week high due to continuous inventory flow to the US, but weak demand outlook from major consuming countries limited the price increase [1] - As of the latest data, LME three-month copper rose by 0.58% to $10,836 per ton, with an intraday peak of $10,884.50, marking the highest level since November 14 [1] - LME registered copper inventory has decreased by 42% this year, with ongoing outflows to COMEX, which recently hit a historical high [1] Group 2 - The LME spot copper contract premium over the three-month forward contract widened to $25 per ton, the highest since mid-October, before narrowing to $10 [1] - Dan Smith, Managing Director of a commodity market analysis firm, indicated that concerns over potential US import tariffs and the outflow of inventory from LME to COMEX have created a sustained short squeeze, leading to artificial scarcity and independent price movement for LME copper [1] - The Yangshan copper premium index, reflecting China's copper import demand, fell by 6% to $32, reaching a four-month low [1] Group 3 - Technically, LME benchmark copper prices broke through the 21-day moving average resistance level, with the support level at $10,828 [2] - Other metals showed mixed performance, with LME three-month aluminum up by 0.12% to $2,815.5 per ton, while lead decreased by 0.10% to $1,982 per ton [2] - Three-month tin rose by 0.23% to $37,470 per ton, nickel fell by 0.04% to $14,690 per ton, and zinc increased by 0.10% to $3,003 per ton [2]