Group 1 - LME three-month copper prices increased by $182.5, or 1.4%, closing at $13,176.5 per ton on February 9, following a decline of 10% since reaching a historical peak of $14,527.50 on January 29 [1] - Other base metals also saw price increases, with three-month aluminum up by $40.5 (1.31%), zinc up by $30.0 (0.90%), lead up by $9.5 (0.48%), tin up by $2,380.0 (5.09%), and nickel up by $259.0 (1.52%) [2] Group 2 - A weaker dollar has made metals priced in dollars cheaper for holders of other currencies, prompting funds to generate buy and sell signals based on this relationship [3] - Market focus is shifting towards U.S. employment and consumer price data, which could influence U.S. interest rates and the dollar's trajectory [3] - Traders are increasing bets that the Federal Reserve will ease policies later this year, with a 19.9% probability of a 25 basis point rate cut at the March 18 meeting, up from 18.4% the previous week [3] Group 3 - Demand for copper remains weak, with high inventory levels suppressing bullish sentiment; LME certified copper inventories reached 184,300 tons, a 25% increase since January 9, while Shanghai Futures Exchange monitored inventories surged over 60% to 248,911 tons since December 19 [3] - Chinese copper buyers are extending their holiday shutdowns, and processing plants are reducing spot purchases due to profit pressures and high inventory levels [3] Group 4 - The Yangshan copper premium, which measures China's copper import willingness, has risen from $20 per ton on January 28 to about $37, but remains low and does not reflect strong demand [4] Group 5 - Chile's central bank reported that copper export revenues in January were $4.55 billion, a 7.8% increase compared to the same month last year; Chile is the world's largest copper producer [5]
期铜因美元走软上涨,但需求疲软和高库存料将抑制看涨情绪【2月9日LME收盘】
Wen Hua Cai Jing·2026-02-10 00:53