供应链担忧推动年末反弹，铜价暴涨40%创2009年来最大年度涨幅

Group 1 - Copper prices are experiencing the longest consecutive rise since 2017, driven by supply chain pressures and tariff expectations, reaching a historical high of nearly $13,000 per ton [1] - The strong rebound in copper futures has resulted in an annual increase of over 40%, marking the largest annual gain since 2009, influenced by defensive buying against potential U.S. tariffs and a weaker dollar [3] - Supply disruptions globally, including incidents in copper mines in Indonesia, Chile, and the Democratic Republic of Congo, have heightened concerns about supply-side issues, affecting not only copper but also other base metals like aluminum and zinc [3][4] Group 2 - The threat of U.S. import tariffs has led to a rush to transport metals to U.S. ports, causing buyers to pay higher prices and exacerbating supply tightness globally [4] - Trade dynamics are being reshaped by inventory redistribution due to tariff policy expectations, with predictions of "extreme shortages" of copper in other regions by 2026 [4] - The London Metal Exchange (LME) has seen a notable increase in copper prices, with all base metals showing positive performance, indicating strong market reactions to supply concerns [4]