Group 1 - The core viewpoint of the articles indicates that copper prices are experiencing upward momentum due to tight supply conditions and increased production pressures from smelters, despite weak domestic demand and rising social inventories [1][2] - Domestic copper concentrate processing fees are under pressure, and disruptions in overseas supply have exposed vulnerabilities in the mining sector, providing support for copper prices [1] - The recent cancellation of export tax rebates for photovoltaic products may temporarily boost metal demand, influencing copper price trends, although high prices continue to suppress actual demand [1] Group 2 - New Lake Futures suggests that after a decline in copper prices, previously suppressed domestic consumption may be released, potentially alleviating inventory pressure [2] - The global mining and smelting sector faces significant production reduction pressures by 2026, indicating a challenging mid-term fundamental outlook [2] - The demand side remains resilient, driven by growth in the renewable energy sector, AI data center construction, and global grid renovation cycles, contributing to strong global copper consumption [2]
乐观情绪重燃 沪铜出现反弹【1月12日SHFE市场收盘评论】
Wen Hua Cai Jing·2026-01-12 08:34