“投资铜条”刷屏！机构有不同看法！

Core Viewpoint - The geopolitical environment has become increasingly complex, leading to a rise in precious and non-ferrous metals prices, with investors seeking alternatives like "investment copper bars" as gold prices reach new highs [1][4]. Group 1: Investment Copper Bars - "Investment copper bars" are not standard investment products and are difficult to liquidate, making them less favorable compared to standard investment options like ETFs [2][4]. - The price of copper has seen a significant increase, with a year-on-year rise of over 33%, and recent peaks reaching $13,407 per ton on the London Metal Exchange [4]. Group 2: Non-Ferrous Metal ETFs - Non-ferrous metal-themed ETFs have outperformed copper itself, with a growth rate exceeding 120% since last year, compared to copper's 33% increase [3][6]. - The demand for copper and aluminum is expected to rise due to emerging sectors like AI data centers, which will support long-term price increases [5][6]. Group 3: Market Dynamics and Supply Constraints - Recent adjustments in trading margins and limits by exchanges aim to stabilize the market amid high volatility in metal prices [7]. - The supply of non-ferrous metals is unlikely to increase rapidly due to the long lead times required for new mining projects, which can take 5-10 years to develop [7]. Group 4: Geopolitical and Economic Factors - Geopolitical risks, along with a re-evaluation of the dollar's credibility and potential liquidity expansion, are expected to enhance the strategic value of precious and non-ferrous metals as hedging assets [8].