值得注意的是，铜的期货价格近日每吨突破一万美元，预计将令明年空调价格有上涨压力，而空调行业 零部件以铝代铜的话题被再次提起。 珠海三友环境技术有限公司董事长肖友元向记者预测说，铜价高涨会加速其他金属在制冷零部件中使用 的替代进度，包括铝换热器、钢制的各类阀件等。耐久性和一致性或多或少有点差别，但是铝、钢替代 铜在暖通行业的应用技术差不多有10年了，技术越来越成熟，目前四通阀、消音器、储液罐、机内部分 配管、冷凝器都有在用。 中国是全球最大的空调制造国。业内人士向记者透露，中国空调业一直在跟进铝代铜技术的发展，相关 研究机构预计会根据技术发展制定产品指标，不会区分企业的技术实现路径，但会对铝部件的可靠性、 耐腐性等有相应考虑和制定标准的计划。 铜价现正处于历史高位。11月24日，伦敦金属交易所（LME）铜的期货价格达到1.08万美元/吨。LME 期铜价格10月底触及每吨1.12万美元，创下2024年5月以来新高。高盛预计，由于供应制约和AI等需求 增长，明后年铜价将在1万~1.1万美元。 由于印尼Grasberg铜矿因泥石流停产，9月LME铜价同比上涨3.94%，沪铜主力合约价格触达年内高点。 产业在线的数据显 ...

2025.11.24 本文字数：1112，阅读时长大约2分钟 作者 |第一财经王珍 铜价现正处于历史高位。11月24日，伦敦金属交易所（LME）铜的期货价格达到1.08万美元/吨。LME期铜价格10月底触及每吨1.12万美元，创下2024年5 月以来新高。高盛预计，由于供应制约和AI等需求增长，明后年铜价将在1万~1.1万美元。 "现在空调业是充分的市场竞争，只能从经营上应对。"另一空调企业负责人也说。 "目前国内空调业面临新一轮洗牌，国补政策对大企业支持比较明显，中小企业竞争压力大并转向外销。成本上升会进一步加快洗牌速度。长远看，由于 成本上升倒逼企业涨价，或许对目前市场竞争是一件好事，价格战可能将由此放缓。"龙飞说。 值得注意的是，铜的期货价格近日每吨突破一万美元，预计将令明年空调价格有上涨压力，而空调行业零部件以铝代铜的话题被再次提起。 珠海三友环境技术有限公司董事长肖友元向记者预测说，铜价高涨会加速其他金属在制冷零部件中使用的替代进度，包括铝换热器、钢制的各类阀件等。 耐久性和一致性或多或少有点差别，但是铝、钢替代铜在暖通行业的应用技术差不多有10年了，技术越来越成熟，目前四通阀、消音器、储液罐、机内 ...

Group 1 - The report highlights the resurgence of tariffs between China and the U.S., suggesting an increased allocation towards gold as a safe-haven asset [1][2] - Precious metals continue to show strength, with silver spot prices reflecting insufficient upward momentum, indicating potential risks of a pullback amid trade disputes [1][2] - The long-term trend of de-dollarization is expected to persist, coupled with inflows into ETFs due to short-term interest rate cuts, supporting a positive outlook for the precious metals sector [1][2] Group 2 - Copper prices are anticipated to rise due to supply disruptions, with recent production guidance cuts from Freeport and Teck Resources enhancing the likelihood of a reversal in the global electrolytic copper balance by 2026 [2] - The aluminum market is also waiting for a buying opportunity following recent price increases, with inventory levels showing expected increases without exceeding forecasts [2] - Cobalt prices have surged significantly, with expectations for continued price increases in 2026-2027 due to a projected supply-demand gap of 20,000 to 30,000 tons next year [3][4] Group 3 - Recent export controls on rare earth materials by Chinese authorities are expected to exacerbate supply-demand imbalances, potentially leading to a new upward trend in rare earth prices [4] - The report suggests monitoring specific companies such as Northern Rare Earth, Baotou Steel, and Huayou Cobalt, among others, for investment opportunities in the precious metals and rare earth sectors [5]

Core Insights - The U.S. real estate market is undergoing a structural shift, with supply increasing and demand slowing, leading to a cooling of home prices [1] - The S&P CoreLogic Case-Shiller Home Price Index indicates that as of April, home prices nationwide rose only 2.7% year-over-year, the smallest increase in nearly two years, and down from 3.4% in March [1] - Instantaneous price tracking from Parcl Labs shows that home prices nationwide are nearly flat year-over-year, indicating a trend of price weakness [1] Price Trends - The slowdown in home prices is evident in both the 10-city and 20-city composite indices, which are significantly below recent peaks [1] - The annual increase in home prices for April was primarily driven by the spring selling season over the past six months, rather than balanced growth throughout the year, indicating a concentration of market momentum [1] Mortgage Rates and Buyer Behavior - High mortgage rates continue to deter many potential homebuyers, with the 30-year fixed mortgage rate surpassing 7% in April, although it has slightly retreated, remaining at multi-year highs [1] - First-time homebuyers accounted for only 30% of overall sales in May, significantly below the historical average of 40%, highlighting the severe impact of high mortgage costs on this demographic [1] Supply Dynamics - The number of homes for sale has increased, but overall supply remains below pre-pandemic levels [2] - Approximately 6% of homeowners are at risk of selling at a loss, slightly higher than a year ago but still at a historical low [2] - The downward risk in the housing market is being supported by insufficient supply, as most existing homeowners are reluctant to give up low mortgage rates locked in during the pandemic [2]

今天是耶稣受难日，欧美股市全部放假，港股也休市，所以北上资金没法进来，市场的交易量，也跌破1万亿，到了9400亿左右，是0924行情以 来，单日成交量最低的一天。 昨天提到，可能就是未来1-2天，会放弃对上证指数的执着，上证至多停步在九连阳或者十连阳， 今天一语成谶了 ，上证指数果然最后时刻收 跌。 不过，收跌的场面，有点戏剧化——今天尾盘出现的时间，比昨天还早了几分钟，14点46分左右，沪深300率先翻红，过了5分钟后，上证指数同 步翻红，不过， 最后1分钟，上证指数一根直线下插下去，转跌 。 那么，问题就变成， 这是故意的，还是不小心的 ——是故意留个破绽，主动结束连胜，还是不小心被算计到了？ 这也是 至今为止，曹老师心里，最大的疑惑。 昨天，宽基ETF，一共净买入40亿出头，我们提到过，压缩尾盘的交易时间段，就是为了节省子弹，而净买入10亿以上的，也确实只有一只上证 50，和两只沪深300的ETF，明显是收着打的。 没想到， 一个锅盖盖两口锅，昨天漏了沪深300，今天漏了上证指数。 下图，看上证50ETF分时图的话，明显是多空博弈，最后10分钟，夹杂着大量的卖单，候着卖出，导致最后砸了下来。 不过，这样 ...