Group 1 - LME three-month copper rose by $54 or 0.56% to $9,702 per ton, supported by a weaker dollar, despite ongoing concerns about demand and unresolved trade tensions [1][3] - Copper prices have increased approximately 20% since hitting a low of $8,105 per ton in April 2023 [1] - The weaker dollar makes metals priced in dollars cheaper for buyers using other currencies, providing some support to prices [3] Group 2 - Recent manufacturing PMI data from Europe and the US remains in contraction territory, indicating a drag from current tariff situations on demand [3] - The US investigation into copper imports has led to a significant premium of COMEX copper prices over LME prices, with a spread of $946 per ton [3] - The production guidance for the Kakula mine has been adjusted to 370,000 to 420,000 tons for 2025, with the 2026 target of approximately 600,000 tons withdrawn [3][4] Group 3 - The downward revision of production estimates, particularly from the Democratic Republic of Congo, is impacting supply outlook, suggesting a potential supply shortage by year-end [4]

Group 1 - South Korea's manufacturing activity has contracted for the fourth consecutive month in May, with the manufacturing Purchasing Managers' Index (PMI) slightly rising to 47.7 from 47.5 in April, remaining below the neutral level of 50, indicating ongoing contraction in the sector [1] - The contraction in South Korea's manufacturing is attributed to weak domestic demand and the impact of increased U.S. trade tariffs, with new orders experiencing the largest decline since June 2020 and factory output decreasing at the fastest rate in two and a half years [1] - The Bank of Korea has initiated its fourth rate cut in the current easing cycle, lowering the economic growth forecast for the year from 1.5% to 0.8%, reflecting the pressures from weak domestic consumption and the adverse effects of U.S. tariff policies on exports [2] Group 2 - The economic outlook for South Korea is becoming increasingly pessimistic, with global investment banks predicting growth expectations below 1%, and the average growth rate forecast dropping to the 0.9% range within four weeks [2] - Manufacturing activity across much of Asia has slowed due to uncertainties surrounding U.S. tariffs, with Japan's manufacturing PMI at 49.4 in May, indicating continued contraction for the 11th month, and Japan's GDP declining by 0.2% in the first quarter [2] - Despite the challenges, there are cautious signs of optimism regarding economic prospects, with some recovery in hiring activities in South Korea and Japan, as manufacturers anticipate improvements in global demand [3]

Group 1 - LME three-month copper rose by $118.50 or 1.25%, closing at $9,616.50 per ton on June 2 [1][2] - COMEX copper contracts reached a high of $4.9495 per pound, with the latest July contract up 3.74% at $4.8525 per pound [3] - The increase in U.S. aluminum and steel import tariffs to 50% announced by President Trump is impacting market dynamics, although copper was not directly mentioned [4][5] Group 2 - COMEX copper premium over LME copper expanded from $772 per ton to over $1,000 per ton [5] - Morgan Stanley reported that approximately 200,000 tons of additional copper have been imported into the U.S. over the past eight weeks, tightening the market outside the U.S. [6] - LME copper inventories have decreased by 45% since mid-February, reaching 148,450 tons, the lowest in nearly a year [7] Group 3 - The U.S. manufacturing sector has contracted for the third consecutive month, with the PMI at 48.5% in May, down from 48.7% in April [8][9] - China's manufacturing PMI rose to 49.5% in May, indicating a slight recovery in economic output [10] Group 4 - Goldman Sachs raised its forecast for aluminum prices in the second half of 2025 by $140 to $2,280 per ton, citing smaller-than-expected market oversupply [12]

Group 1 - The core point of the article indicates that Canada's Manufacturing Purchasing Managers' Index (PMI) for May is reported at 46.1, which shows an increase from the previous value of 45.3 [1]

加拿大4月标普全球制造业采购经理人指数 45.3，前值46.3。 ...