多头情绪萦绕 沪铜再创新高【1月6日SHFE市场收盘评论】

Group 1 - Copper prices opened high and reached a peak of 105,490 yuan, marking a new listing high, with the main contract closing up 4.88% [1] - The non-ferrous metal sector shows strong bullish sentiment, influenced by overseas mining disruptions and low copper inventories in non-US regions, leading to a continued upward shift in copper prices [1] - The ongoing tightness in the copper market has been a persistent issue, with declining copper processing fees putting significant production pressure on smelters [1] Group 2 - Recent labor strikes at the Mantoverde copper mine in Chile and delays in the expansion of the Mirador copper mine in Ecuador have exposed vulnerabilities in the copper supply chain [1] - COMEX copper inventories have risen to over 500,000 short tons, while LME copper inventories have decreased, indicating a complex inventory situation [1] - Domestic copper prices are rising, with a noticeable narrowing of the discount on domestic copper compared to earlier in the year, necessitating attention to downstream demand performance [1] Group 3 - Jinrui Futures indicates that tensions regarding copper mines are escalating, with potential for continued export arrangements from China despite weak downstream consumption and increased production halts [2] - The balance in the domestic market is accelerating towards surplus, while overseas LME canceled warrants have significantly increased, suggesting a preemptive reflection of tightness expectations [2] - The outlook for copper prices remains strong, driven by ongoing tightness in the copper supply chain and recent disturbances in mining operations [2]