该投行表示，铝在长期内至少与铜同样看涨，将2027年平均价格预测从3000美元/吨上调至3500美元/吨。 花旗预计未来数月白银将升至43美元/盎司。 该投行维持亨利枢纽天然气0-3个月价格目标为3.8美元/百万英热单位 花旗还将2026年布伦特原油平均价格预测从65美元/桶小幅下调至62美元/桶。 （文华综合） 作为全球最大的铜消费国，中国产业链面临三大挑战：上游资源对外依存度攀升、中游加工环节产能过剩、下游需求受高铜价抑制。为助力行业应对变局， 上海有色网携手铜产业链企业联合编制《2026中国铜产业链分布图》中英双语版，点击此链接即可免费领取铜产业链分布图： https://s.wcd.im/v/470opZ19l/。 9月3日（周三），花旗称，称中期看涨情绪增强，预计到2026年底铜价将突破11000美元。 SMM联合制作联系人 刘明康 156 5309 0867 liumingkang@smm.cn ...

Group 1: Commodity Price Forecast - Gold is expected to experience range-bound fluctuations, while copper and oil are anticipated to trend upwards [1][14] - Domestic copper concentrate processing fees have plummeted, and the Panama copper mine has not yet resumed operations, indicating a tight supply for copper, which supports an upward price trend [15] Group 2: Consumer Trends - Passenger car sales have rebounded, while new and second-hand housing sales have weakened, with first-tier cities seeing a decline in second-hand housing price growth [3] - The summer consumption heat is recovering, with an increase in foot traffic in commercial areas and subway passenger volumes, alongside improved hotel occupancy rates and average room prices [4] Group 3: Foreign Trade - Overall export performance is weakening, with shipments to the U.S. shifting from growth to decline [5][6] - Concerns over the expiration of tariff exemptions have led to a decrease in container bookings to the U.S., with a corresponding drop in shipping volumes [7] Group 4: Production Insights - Demand remains relatively resilient, with an increase in the price of thermal coal due to rising daily coal consumption at power plants [9][12] - The production of rebar has increased, and while social inventory continues to decline, factory inventory has shifted from decline to increase [11] Group 5: Price Movements - Geopolitical risks have eased, leading to a decline in gold and oil prices, although oil prices may rebound if conflicts resume [13] - Domestic prices for cement, rebar, glass, and thermal coal have shown signs of recovery [13]