BMI：今年铜均价料为11000美元/吨 明年进一步上涨

Core Viewpoint - Fitch's BMI analysts indicate that tightening supply and robust demand will continue to support copper prices, with a forecasted average price of $11,000 per ton for this year and $12,500 per ton for next year [2][2][2] Group 1: Market Dynamics - The optimism in the copper market is driven by the Federal Reserve's interest rate cuts in December, ongoing concerns about supply constraints, and the implications of Trump's tariff rhetoric [2][2][2] - Analysts warn that the re-emergence of U.S. tariff pressures could lead to increased market volatility [2][2][2] Group 2: Challenges in the Chinese Copper Industry - As the world's largest copper consumer, China faces three major challenges: rising dependence on foreign upstream resources, overcapacity in the midstream processing sector, and downstream demand being suppressed by high copper prices [2][2][2] - To assist the industry in navigating these changes, Shanghai Nonferrous Metals Network is collaborating with copper industry enterprises to compile a bilingual version of the "2026 China Copper Industry Chain Distribution Map" [2][2][2]