期铜突破12000大关再创新高，因美元走弱及供应趋紧【12月23日LME收盘】

Core Viewpoint - LME copper prices reached a historic high, surpassing $12,000 per ton, driven by a weaker dollar and expectations of tightening supply, with speculative buying momentum boosted by year-end trading activity [1] Group 1: Copper Market Dynamics - On December 23, LME three-month copper rose by $135.5, or 1.14%, closing at $12,060.5 per ton, with an intraday peak of $12,159.50 [1][2] - Year-to-date, copper prices have increased by 37%, marking the largest annual gain since 2009, despite a reported surplus of 12,200 tons in the first ten months of the year [3] - Anticipation of U.S. import tariffs on refined copper starting in 2027 is leading to tighter supply in traditional consumption centers [3] Group 2: Economic Indicators - The U.S. GDP grew at an annualized rate of 4.3% in Q3, up from 3.8% in Q2, driven by increased consumer spending, exports, and government expenditure [3][4] - Goldman Sachs forecasts that copper prices will stabilize at an average of $11,400 per ton in 2026 amid tariff uncertainties, with potential declines expected in late 2026 and early 2027 as U.S. inventories decrease [4] Group 3: Other Metals Performance - LME three-month nickel increased by $463, or 3.03%, closing at $15,739.0 per ton, reaching a near seven-month high of $15,980 earlier in the day [4] - LME three-month aluminum fell by $2.5, or 0.08%, to $2,939.0 per ton, while zinc rose by $8.5, or 0.28%, to $3,093.5 per ton [4] - LME three-month lead increased by $11, or 0.56%, to $1,982.5 per ton, whereas tin decreased by $155, or 0.36%, to $42,792.0 per ton [4]