Group 1 - The recent announcement of a 50% tariff on imported copper by Trump has led to a significant surge in copper futures, with a nearly 10% increase marking the largest daily gain in 56 years [1][3] - The tariff has created a "siphon effect," causing traders to stockpile copper in the U.S., which has widened the price gap between COMEX and LME copper prices to $25 per ton [3] - The supply side is constrained, as it takes several years for new copper mines to come online, and major producers like Chile are facing production challenges due to water shortages [3] Group 2 - The long-term outlook for copper remains strong due to increasing demand from sectors such as electric vehicles and renewable energy, with a warning from PwC about potential supply disruptions affecting 32% of global semiconductor capacity by 2035 [3] - Investors are advised to consider the volatility caused by the tariff in the short term, but the fundamental demand for copper suggests significant upside potential in the medium to long term [4][5] - Companies with copper mining operations in the U.S., such as Freeport-McMoRan, have seen stock price increases, but competition from Canadian miners is expected to intensify as the market adjusts [5]

在特朗普宣布消息后，纽约铜期货价格飙升，对国际基准价格的溢价一度达到约25%。那些能够在新关 税实施前将铜运抵美国的交易商，将能够获得更大的利润。 但这也意味着，交易商面临与时间赛跑的局面，如果运输途中关税就已经生效，他们将蒙受巨大亏损。 AI播客：换个方式听新闻 下载mp3 音频由扣子空间生成 美国总统特朗普计划对铜征收50%的关税，可能会让已经持续几个月的高利润套利交易陷入困境。 特朗普最新的铜关税标志着铜市场剧烈变化的高潮。美国价格的飙升将促使整个行业竞相将金属运入美 国；美国国内库存将会激增，而全球其他地区则面临越来越严重的供应紧张。 一些急于获得最后一批金属的交易商愿意支付高额溢价，在伦敦金属交易所的价格基础上，提供接近每 吨400美元的溢价，试图吸引原本运往中国的货物转向美国。这些交易商表示，出于商业敏感信息，他 们要求不公开身份。 买家特别愿意为那些符合交割要求的品牌支付更多。因为，这意味着，如果他们无法为铜找到其他买 家，至少可以在交易所上将其转售，作为最后的手段。 据了解市场情况的人士称，近期货物的运输量已开始减少，因为一些交易商开始为关税做准备。但他们 表示，仍有大量铜产品正在运往美国港口 ...

Group 1 - Morgan Stanley is optimistic about Freeport-McMoRan (FCX.US) following a surge in COMEX copper prices due to Trump's proposed 50% tariff on imported copper [1] - The analysis highlights three advantages for Freeport-McMoRan: excellent operational performance, cost advantages from by-product gold at the Grasberg mine, and a higher proportion of U.S. business compared to global peers [1] - A $0.1 per pound premium of COMEX copper over LME copper could lead to an annual EBITDA and operating cash flow increase of $135 million for the company, benefiting from tax and royalty exemptions on U.S. assets [1] Group 2 - Morgan Stanley raised the target price for Freeport-McMoRan from $42 to $56, reflecting stronger commodity prices and reduced recession risks [1] - Other companies of interest include Teck Resources (TECK.US) and Ivanhoe Electric (IE.US), with a focus on their U.S. copper operations [2] - Bank of America identified Freeport-McMoRan and Southern Copper (SCCO.US) as the most sensitive to COMEX copper prices, with Freeport expected to derive 36% of its revenue from U.S. copper by 2025 [2]

7月9日（周三），智利和墨西哥政府高级官员表示，他们可能寻找其他市场，以躲避特朗普关税威胁，此前一天，美国总统特朗普威胁称将对铜进口征收 50%关税。 据新华社此前报道，美国总统特朗普7月8日表示，将对所有进口到美国的铜征收50%的新关税，但没有透露新关税生效具体时间。 据美国消费者新闻与商业频道报道，内阁会议结束后，美国商务部长卢特尼克说，商务部已完成对铜进口状况的调查，他预计新关税"可能在7月底或8月1日 实施"。 智利是美国最大的单一铜供应国，美国占到智利铜出口总量的约11%，但在其精炼铜出口中的比重不足7%。 智利总统博里奇表示，他正在等待美国政府的正式通知，包括关税是否会涵盖铜阴极这一内容，并质疑"这到底是否会真正得以实施呢？" 智利矿业部长Aurora Williams表示，现在还无法确定智利是否会提出豁免申请。 美国的铜进口量占其铜消费总量的近一半，该国政府正致力于提高国内铜产量。智利是美国最大的精炼铜供应国，而墨西哥则位居第五。 墨西哥总统辛鲍姆在新闻发布会上表示，墨西哥可能改变常规的对美出口路径，从而避免关税。 她表示，墨西哥官员将于周五抵达华盛顿，参加此前已安排好的有关贸易、安全和移民问题 ...

特朗普发起了新一轮贸易战，全球再度陷入关税的冲击波。 在特朗普发信函给日韩及南非等14国威胁征税之后，当地时间7月8日，特朗普再度威胁称，将对美国进口的药品和铜征收高额关税。这意味着特朗普政府贸 易保护政策或进一步升级。 特朗普插手医药和铜，关税再度升级 特朗普表示，希望通过关税举措，促进医药制药商将制造业务带回美国。特朗普还补充称："如果他们必须将药品和其他相关产品进口到国内，关税将高达 200%。" 很多制药公司一直对关税持反对意见，有分析指出，相关关税可能会推高成本，阻碍在美国的投资，扰乱药品供应链，使患者面临风险。美国药品行业最大 的游说团体美国药品研究与制造商协会（PhRMA）也认为，药品历来被免除关税，因为它们会增加成本并导致短缺。 至于铜方面，特朗普表示，考虑对进口到美国的铜征收50%的附加税。"懂王"的言论对资本市场造成了巨大的冲击。在特朗普发表上述言论后，美国铜价大 幅飙升，纽约商品交易所的铜期合约暴涨。此外，昨夜美国矿业巨头Freeport-McMoRan（FCX.US）的股价盘中一度大涨逾8%，截至收盘涨幅收窄至 2.53%。 值得注意的是，铜乃工业金属之首，从消费电子、汽车、房地产和A ...

据央视网，特朗普称将对进口铜征收50%关税，但没有透露新关税生效具体时间。据路透社8日消息， 智利外交部表示，尚未收到任何关于实施美国铜关税的正式官方通知。智利是全球最大铜出产国，也是 美国最大的铜进口国。 ...

2025 年 07 月 09 日 铜：美国可能对铜加征关税，美铜价格大涨 | 季先飞 | | --- | | 投资咨询从业资格号：Z0012691 | | jixianfei@gtht.com | 【基本面跟踪】 铜基本面数据 | | | 昨日收盘价 | 日涨幅 | 昨日夜盘收盘价 | 夜盘涨幅 | | --- | --- | --- | --- | --- | --- | | | 沪铜主力合约 | 79,620 | 0.44% | 80030 | 0.51% | | | 伦铜3M电子盘 | 9,665 | -1.22% | - | - | | | | 昨日成交 | 较前日变动 | 昨日持仓 | 较前日变动 | | 期 货 | 沪铜主力合约 | 61,263 | -14,051 | 207,382 | 2,876 | | | 伦铜3M电子盘 | 20,076 | 8,490 | 277,000 | -4,142 | | | | 昨日期货库存 | 较前日变动 | 注销仓单比 | 较前日变动 | | | 沪铜 | 19,109 | -2,573 | - | - | | | 伦铜 | 102,500 | 5,100 ...

金十数据7月9日讯，巴克莱FICC Research的五位成员说，美国的药品关税对亚洲新兴市场的影响可能 比铜关税更大。如果对新加坡的药品征收200%的关税，新加坡对美出口的增值加权关税或飙升4.5个百 分点，印度、韩国、马来西亚可能分别面临0.7、0.4和0.3个百分点的关税增幅；相比之下，即便美国对 铜征收50%关税，对亚洲新兴国家增值加权关税的影响也微乎其微。 机构：美国制药关税对亚洲新兴市场的影响可能大于铜关税 ...

Group 1 - The U.S. President Trump announced a 50% import tariff on all copper imports, catching Chile, the largest copper producer, off guard [1][2] - Chile's state-owned copper company, Codelco, is seeking clarification on which copper products are affected and whether the tariff applies to all countries [1] - Following the announcement, U.S. COMEX copper prices surged over 12%, reaching a record high [1] Group 2 - SONAMI President Jorge Riesco warned that the tariffs could lead to market uncertainty and price volatility, potentially impacting Chile and other suppliers [2] - Riesco noted that U.S. companies might stockpile copper ahead of the tariffs, which could temporarily inflate prices, but cautioned that the U.S. may struggle to expand its own supply [2]

Group 1: Pharmaceutical Industry - The Trump administration is threatening to impose a 200% tariff on imported pharmaceuticals, with a timeline for companies to adjust of about one to one and a half years [2][3] - The Pharmaceutical Research and Manufacturers of America (PhRMA) opposes the tariffs, stating that every dollar spent on tariffs cannot be invested in U.S. manufacturing or future treatments [3] - Analysts believe that the announcement may have a positive impact on the pharmaceutical sector, as the tariffs are not expected to be implemented immediately and their future enforcement remains uncertain [2] Group 2: Copper Industry - Trump is considering a 50% additional tax on imported copper, although no specific implementation date has been provided [3][4] - Following the tariff announcement, copper prices surged over 10%, reaching a historical high in the New York market, with futures rising 13.12%, marking the largest single-day increase since 1989 [3][4] - The U.S. relies heavily on copper imports, with nearly half of its copper supply coming from abroad, primarily from Chile [4]