中信证券：供给缺口有望拉阔60%，预计12000美元将成为铜价的崭新起点

Core Viewpoint - The report from CITIC Securities indicates that since mid-November, a turning point in inventory has been observed, coupled with expectations of interest rate cuts and domestic production reductions, leading to a potential acceleration of LME copper prices towards $12,000 per ton by the end of the year [1] Group 1 - The dual narrative of "U.S. copper hoarding" and "domestic production cuts" is expected to resonate and widen the supply gap by 60% [1] - It is anticipated that $12,000 will become a new starting point for copper prices [1] - A comprehensive recommendation for allocation in the copper sector is provided [1]