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矿业ETF(561330)上涨1.87%,工业金属供需博弈与宏观压力交织
Mei Ri Jing Ji Xin Wen· 2025-06-27 02:11
Group 1 - The core viewpoint of the articles indicates that industrial metal prices, particularly copper and aluminum, are expected to rise due to a temporary easing of US-China tensions, resilient demand from new energy and grid investments, and supply bottlenecks [1] - The report from CITIC Securities highlights that the prices of industrial metals are experiencing fluctuations due to the Federal Reserve maintaining the benchmark interest rate and disappointing retail data from May [1] - The copper market is facing tight supply conditions, with negotiations between Chinese smelters and Antofagasta stalled, while the demand side is entering a traditional off-season, leading to a 3.04 percentage point decrease in the operating rate of copper cable enterprises [1] Group 2 - In the aluminum sector, the operating rate of alumina has decreased by 0.4 percentage points, with some companies opting to cut production due to rising raw material costs; however, social inventory continues to show a trend of reduction [1] - Zinc prices are supported by a decrease in overseas inventory, but domestic supply and demand remain weak; lead prices are under pressure due to raw material supply issues and sluggish consumption, maintaining a consolidation phase [1] - Nickel prices have weakened further due to soft demand and the influence of London nickel prices, indicating that the overall industrial metal market is constrained by macroeconomic pressures and seasonal demand reductions [1]