“铜博士”创历史新高，多因素驱动下2026铜价还将继续“狂飙”？

Group 1 - International copper prices have reached a historic high, with LME copper rising over 5% to $12,785.33 per ton, marking the highest level ever recorded [1] - Year-to-date, international copper prices have increased by over 40%, potentially setting the best annual growth record since 2010 [1] - The surge in copper prices has triggered a collective rise in the stock prices of metal companies, with notable increases in shares of Jiangxi Copper, Chalco International, and others [1] Group 2 - On the supply side, major global copper producers have recently lowered their production forecasts, leading to a continued trend of mine reductions [2] - Significant incidents and shutdowns at major mines, such as Grasberg in Indonesia and Kamoa-Kakula in the Democratic Republic of Congo, have contributed to supply disruptions [2] - On the demand side, the acceleration of global energy transition and the explosion of artificial intelligence capabilities are driving strong and sustained demand for copper [2] - The electricity consumption of data centers can reach ten times that of traditional facilities, leading to a rapid increase in copper demand for AI infrastructure [2] - Research from BHP indicates that by 2050, the copper required for AI data center electrical wiring could increase sixfold, with annual demand potentially reaching around 3 million tons [2]