Group 1: Copper Price Surge - Copper prices on the London Metal Exchange (LME) reached a new high due to tightening supply expectations and a weakening dollar, closing at $11,252.00 per ton, up $63.00 or 0.56% [1] - Year-to-date, copper prices have increased by nearly 30% [1] Group 2: Market Dynamics - The China Copper Raw Material Joint Negotiation Group (CSPT) has agreed to reduce copper concentrate production capacity by over 10% for the 2026 fiscal year to improve the supply-demand fundamentals [3] - Chile's state-owned copper company, Codelco, has set record high quotes for Chinese buyers, leading some to abandon annual contracts, with premiums reaching $350 per ton above LME prices [4] - Concerns about supply disruptions and challenging negotiations for ore supply were reiterated at the recent Asian Copper Week held in Shanghai [4] Group 3: Zinc Market Insights - LME zinc inventories are at low levels, with spot prices for zinc trading at a premium of approximately $245 per ton over the three-month LME zinc price, a significant increase of $190 since the end of October [5]
金属齐涨 期铜升至历史新高，受助于美元走软和供应趋紧预期【12月1日LME收盘】
Wen Hua Cai Jing·2025-12-02 00:13