更新时间： LME铜期货行情回顾： 北京时间11月7日，伦敦金属交易所(LME)铜期货价格区间震荡，今日开盘报10707.5美元/吨，现报 10712美元/吨，涨幅0.28%，盘中最高触及10734美元/吨，最低下探10698美元/吨。 11月6日伦敦金属交易所(LME)铜期货行情 11月6日，电解铜现货沪伦比值为8.02，进口盈亏：-499.75元/吨，上一交易日进口盈亏：-521.63元/吨。 11月6日，上期所铜期货仓单43893吨，环比上个交易日增加1332吨。 11月6日，伦敦金属交易所（LME）：铜注册仓单123775吨。注销仓单10700吨，增加50吨。铜库存 134475吨，增加500吨。 品种 开盘价 最高价 最低价 收盘价 LME铜 10735.0 10792.5 10666.0 10687.0 -0.43% 【铜市场消息速递】 ...

Group 1: Report Overview - Report Title: "Shanghai Copper Weekly Report (10.9 - 10.10)" [1] - Author: Zhu Senlin from Dayue Futures Investment Consulting Department [1] - Contact: 0575 - 85226759 [1] Group 2: Industry Investment Rating - No investment rating information provided Group 3: Core View - Last week, Shanghai copper prices rose significantly, with the main contract up 3.37% to 85,910 yuan/ton. Geopolitical factors, US tariffs, Indonesian copper mine force majeure, and the rise of precious metals stimulated the price increase. Domestically, consumption is entering the peak season, but downstream consumption willingness is average. The domestic spot market is mainly for rigid - demand transactions. LME copper inventory decreased slightly, while SHFE copper inventory increased by 14,656 tons to 109,690 tons [4] Group 4: Summary by Directory 1. Market Review - The main Shanghai copper contract rose 3.37% last week, closing at 85,910 yuan/ton. Geopolitical factors, US tariffs, Indonesian copper mine force majeure, and the rise of precious metals drove the price up. Downstream consumption willingness is average, and the spot market is mainly for rigid - demand transactions. LME copper inventory decreased slightly, and SHFE copper inventory increased by 14,656 tons to 109,690 tons [4] 2. Fundamental Analysis - **PMI**: No specific content provided - **Supply - Demand Balance**: In 2024, there is a tight supply - demand balance, and in 2025, there will be an oversupply. The China annual supply - demand balance table shows different supply - demand situations from 2018 - 2024 [12][15] - **Inventory**: Exchange inventory is being destocked, and bonded area inventory remains at a low level [16][19] 3. Market Structure - **Processing Fee**: Processing fees are at a low level [22] - **CFTC Position**: Non - commercial net long positions in CFTC are flowing out [24] - **Futures - Spot Price Difference**: No specific content provided - **Import Profit**: No specific content provided - **Warehouse Receipt**: No specific content provided

Group 1 - LME copper futures prices showed a slight increase, opening at $9,665 per ton and currently trading at $9,689 per ton, with a peak of $9,700 per ton and a low of $9,665 per ton, reflecting a 0.16% increase [1] - On August 6, LME copper futures opened at $9,625 per ton, reached a high of $9,708 per ton, and closed at $9,681 per ton, marking a 0.50% increase [2] - The current spot price of electrolytic copper in Shanghai-London ratio is 8.11, with an import loss of -141.8 yuan per ton, improving from a previous loss of -262.02 yuan per ton [2] Group 2 - As of August 6, LME registered copper warrants totaled 145,200 tons, with canceled warrants at 10,925 tons, a decrease of 1,075 tons; total copper inventory increased by 2,275 tons to 156,125 tons [2] - A survey of 74 domestic recycled copper rod production enterprises, covering a capacity of 8.19 million tons, indicated that the actual production of recycled copper rods in July 2025 was 216,700 tons, a month-on-month decrease of 13.74% [2] - The capacity utilization rate for domestic recycled copper rods in July 2025 was 26.73%, down 5.29% month-on-month and 3.44% year-on-year [2]