德意志银行：第二季度铜价将触及每吨13000美元峰值

Group 1 - Deutsche Bank expects copper prices to peak at $13,000 per ton in Q2, followed by a decline in the second half of the year as production from major mines is likely to recover [2] - The threat of tariffs on refined copper from the U.S. is expected to lead to continued metal inflow into the U.S. during the first half of the year [2] - Aluminum prices are also anticipated to decline from current levels in the second half of the year, with an average forecast of $2,925 per ton for 2026 and a peak of $3,100 per ton in Q2 [2] Group 2 - China's copper industry faces three major challenges: increasing dependence on foreign resources in the upstream, overcapacity in the midstream processing sector, and downstream demand being suppressed by high copper prices [2] - To assist the industry in navigating these changes, Shanghai Nonferrous Metals Network has collaborated with copper industry chain enterprises to compile a bilingual distribution map of the Chinese copper industry chain for 2026 [2]