市场快讯：铜价脱离震荡区间上涨

Report Summary 1) Report Industry Investment Rating No relevant information provided. 2) Core Viewpoints of the Report - The price of Shanghai copper broke through the three - month oscillation range of 77,400 - 79,500 on the night session of June 26th and during the day on June 27th, and continued to rise strongly, breaking through the 80,000 mark. It is expected to rise further and reach the previous high of 83,000 [4][7]. 3) Summary According to Related Logics - Macroeconomic Factor: The slowdown of the US economic growth, with the season - adjusted Q1 GDP at 0.5%, weaker than expected, has led to a continued downward trend of the US dollar index and increased expectations of the Fed's interest rate cut, thus supporting the strengthening of copper prices [7]. - Geopolitical Factor: The cease - fire in the Israel - Iran war and the gradual easing of the Russia - Ukraine war, along with the lenient handling of US tariff policies, will bring a favorable external environment for copper demand [7]. - Market Sentiment Factor: According to the CFTC's weekly position report, long positions have been higher than short positions recently. Also, the long positions and trading volume on the Shanghai Futures Exchange have been on the rise [7]. - Long - term Demand Factor: In the long - run, under the framework of global energy transformation, with a loose domestic macro - economic environment and increased structural investment, domestic investment in power equipment and big data centers is expected to increase, ensuring a positive trend in copper demand and an upward - oscillating copper price [7].