【铜市场消息速递】 12月5日，伦敦金属交易所（LME）：铜注册仓单98700吨，注销仓单63850吨，减少475吨。铜库存 162550吨，减少275吨。 北京时间12月8日，伦敦金属交易所(LME)铜期货价格高位震荡，今日开盘报11653美元/吨，现报 11595.5美元/吨，跌幅0.22%，盘中最高触及11671美元/吨，最低下探11591美元/吨。 更新时间： LME铜期货行情回顾： 12月5日伦敦金属交易所(LME)铜期货行情 品种 开盘价 最高价 最低价 收盘价 LME铜 11422.5 11705.0 11420.5 11665.0 2.02% 国内主要精铜杆企业11月28日-12月4日开工率为66.41%，环比下滑2.78个百分点，同比下降15.53个百分 点。 12月5日，电解铜现货沪伦比值为7.95，进口盈亏：-1227.97元/吨，上一交易日进口盈亏：-1620.75元/ 吨。 ...

品种 开盘价 最高价 最低价 收盘价 LME铜 11183.0 11540.0 11180.0 11448.5 2.72% 【铜市场消息速递】 北京时间12月4日，伦敦金属交易所(LME)铜期货价格继续上涨，今日开盘报11440美元/吨，现报11500 美元/吨，涨幅0.11%，盘中最高触及11524美元/吨，最低下探11440美元/吨。 更新时间： LME铜期货行情回顾： 12月3日伦敦金属交易所(LME)铜期货行情 12月3日，伦敦金属交易所(LME)：铜注册仓单105275吨。注销仓单56875吨，增加50575吨。铜库存 162150吨，增加350吨。 预计2025年12月中国铜箔企业整体开工率为87.78%，环比上升1.47个百分点，同比上升12.14个百分 点。锂电铜箔12月开工率为90.44%，环比上升2.26个百分点，同比上升15.55个百分点；电子电路铜箔 12月开工率为82.67%，环比下降0.04个百分点，同比上升5.69个百分点。 12月3日，电解铜现货沪伦比值为7.94，进口盈亏：-1432.68元/吨，上一交易日进口盈亏：-1404.07元/ 吨。 ...

Core Insights - LME copper futures prices experienced a significant increase, opening at $10,995 per ton and currently trading at $11,059.5 per ton, reflecting a rise of 0.88% [1] - The intraday high reached $11,069.5 per ton, while the lowest point was $10,983 per ton [1] Group 1: Market Performance - On October 24, LME copper futures opened at $10,832 per ton, with a closing price of $10,947 per ton, marking a 1.20% increase [2] - The highest price recorded on October 24 was $10,979.5 per ton, and the lowest was $10,796 per ton [2] Group 2: Supply and Inventory - As of October 24, the Shanghai Futures Exchange reported copper futures warehouse receipts at 35,071 tons, a decrease of 977 tons from the previous trading day [2] - LME registered copper warehouse receipts totaled 126,000 tons, with 10,350 tons canceled, a reduction of 425 tons, and total copper inventory at 136,350 tons, down by 575 tons [2] Group 3: Import and Pricing Dynamics - On October 24, the electrolytic copper spot price ratio between Shanghai and London was 8.01, with an import loss of 798.09 yuan per ton, compared to a loss of 890.28 yuan per ton on the previous trading day [2]

Group 1 - LME copper futures prices experienced wide fluctuations, opening at $10,702.5 per ton and currently at $10,717 per ton, with a maximum of $10,733 per ton and a minimum of $10,679 per ton, reflecting a 0.04% increase [1] - On October 20, LME copper futures opened at $10,600.0, reached a high of $10,733.5, a low of $10,591.5, and closed at $10,712.5, marking a 0.96% increase [2] - As of October 20, LME registered copper warrants totaled 129,350 tons, with 7,825 tons canceled, and total copper inventory decreased by 50 tons to 137,175 tons [2] Group 2 - In the third week of October 2025, Brazil exported a total of 116,700 tons of copper ore and copper concentrate, significantly up from 76,600 tons in October of the previous year, with a daily average shipment of 9,000 tons, an increase of 157.66% year-on-year [2] - On October 20, the Shanghai Futures Exchange reported copper warrants at 41,319 tons, a decrease of 1,530 tons compared to the previous trading day [2]

Group 1 - LME copper futures prices experienced a downward trend, opening at $10,610 per ton and currently trading at $10,574 per ton, reflecting a decline of 0.47% [1] - The highest price during the trading session reached $10,639.5 per ton, while the lowest dipped to $10,555 per ton [1] - On October 16, LME copper futures closed at $10,624 per ton, with a slight increase of 0.45% from the previous day [2] Group 2 - Peru's copper production in August decreased by 1.6% year-on-year to 242,740 tons, while the total production for the first eight months of 2025 was approximately 1.81 million tons, marking a 2.6% increase [2] - As of October 16, the electrolytic copper spot price ratio between Shanghai and London was 8.01, with an import loss of -1,122.08 yuan per ton, improving from a loss of -1,749.59 yuan per ton on the previous trading day [2] - LME registered copper warrants totaled 129,900 tons, with canceled warrants at 7,550 tons, a decrease of 1,000 tons, and total copper inventory at 137,450 tons, down by 900 tons [2]

Group 1 - LME copper futures prices experienced a sharp increase, opening at $10,271 per ton and currently trading at $10,263 per ton, with a daily decline of 0.12% [1] - The highest price during the trading session reached $10,289.5 per ton, while the lowest was $10,248.5 per ton [1] Group 2 - On September 25, LME copper futures opened at $10,300, peaked at $10,485, and closed at $10,275.5, reflecting a decrease of 0.43% [2] - The electrolytic copper spot market showed a ratio of 8.01, with an import loss of ¥763.68 per ton, compared to a previous loss of ¥108.53 per ton [2] - Domestic electrolytic copper inventory was reported at 145,600 tons on September 25, a decrease of 11,000 tons from September 18 and a decrease of 2,800 tons from September 22 [2] - Shanghai's inventory stood at 98,600 tons, showing a decrease of 1,100 tons from September 18 but an increase of 3,900 tons from September 22 [2] - Guangdong's inventory was 15,400 tons, down 5,800 tons from September 18 and down 2,100 tons from September 22 [2] - Jiangsu's inventory was reported at 26,500 tons, a decrease of 2,700 tons from September 18 and a decrease of 3,200 tons from September 22 [2] - As of September 25, LME registered copper warrants totaled 133,025 tons, with 11,400 tons canceled, a reduction of 375 tons, leading to a total copper inventory of 144,425 tons, down by 350 tons [2]

Group 1 - LME copper futures prices showed slight fluctuations, opening at $9,985 per ton and currently at $9,991 per ton, with a gain of 0.17% [1] - On September 17, LME copper futures closed at $9,974 per ton, down 1.41% from the previous day, with a trading range between $9,925 and $10,134 per ton [2] - LME registered copper warrants totaled 135,325 tons, with cancellations of 14,450 tons, resulting in a net decrease of 1,350 tons; total copper inventory decreased by 1,175 tons to 149,775 tons [2] Group 2 - In August 2025, China's copper material production reached 222.2 million tons, marking a year-on-year increase of 9.8%; cumulative production from January to August was 16.598 million tons, up 10.7% [2] - Refined copper production in August was 130.1 million tons, reflecting a year-on-year growth of 14.8%; cumulative production for the first eight months was 9.891 million tons, an increase of 10.1% [2] - As of September 17, the Shanghai Futures Exchange reported copper warrants at 33,291 tons, a decrease of 401 tons compared to the previous trading day [3]

Group 1 - LME copper futures prices showed narrow fluctuations, opening at $9777.5 per ton and currently at $9776.5 per ton, with a slight decline of 0.01% [1] - On August 14, LME copper futures had an opening price of $9795.0, a highest price of $9836.5, a lowest price of $9714.0, and a closing price of $9768.5, reflecting a decrease of 0.13% [1] - The current ratio of electrolytic copper spot prices between Shanghai and London is 8.1, indicating a profit/loss of 44.55 yuan per ton for imports, compared to a loss of 75.3 yuan per ton on the previous trading day [1] Group 2 - The El Teniente copper smelter of Codelco, the Chilean state-owned copper company, has resumed operations [1] - As of August 14, LME registered copper warrants totaled 144,800 tons, with canceled warrants at 11,050 tons, a decrease of 500 tons; total copper inventory stands at 155,850 tons, down by 25 tons [1]

Group 1 - LME copper futures prices continued to rise, opening at $9,730 per ton and currently trading at $9,763.5 per ton, with an increase of 0.38% [1] - The highest price during the trading session reached $9,770 per ton, while the lowest dipped to $9,729.5 per ton [1] - On August 11, LME copper futures closed at $9,728.5 per ton, reflecting a decrease of 0.47% from the previous day [2] Group 2 - The electrolytic copper spot price ratio between Shanghai and London was reported at 8.11, indicating an import loss of 100.28 yuan per ton, improved from a loss of 245.04 yuan per ton the previous trading day [2] - The Chilean Copper Commission (Cochilco) reported that copper production at the Escondida mine in Chile decreased by 33% year-on-year in June, totaling 76,400 tons [2] - As of August 11, LME registered copper warrants totaled 143,725 tons, with canceled warrants at 11,975 tons, an increase of 900 tons; total copper inventory decreased by 150 tons to 155,700 tons [2]