Core Viewpoint - The U.S. government has announced a 50% tariff on imported copper semi-finished products and high-copper-content derivatives starting August 1, excluding refined copper and major products from this tax, which contradicts market expectations [1][3][6]. Group 1: Tariff Announcement - President Trump signed an announcement on July 30, imposing a 50% tariff on imports of copper semi-finished products such as copper pipes, wires, rods, and sheets, as well as high-copper-content derivatives like fittings, cables, connectors, and electrical components [1][3]. - Refined copper and major products are excluded from the tariff, which was unexpected by the market, as there were anticipations that all imported refined metals would be taxed [1][3][6]. Group 2: Market Reaction - Following the announcement, copper futures on the New York Commodity Exchange experienced a significant drop, with prices falling over 18% at one point, ultimately closing at $4.63 per pound, down approximately 17% [3][5]. - The announcement has been described as unexpectedly disruptive to international markets, indicating a volatile response from traders [3][5]. Group 3: Historical Context - Earlier in the year, Trump hinted at potential copper tariffs, which led to a notable increase in U.S. copper prices compared to global markets, resulting in a surge of copper products entering the U.S. [5][6]. - On July 8, after announcing a 50% tariff on all imported copper, copper futures saw a record single-day increase of 17%, reaching $5.89 per pound, marking the largest single-day price increase since 1989 [5][6]. Group 4: Trade Flow Implications - The exclusion of refined copper from the tariff is expected to further disrupt global copper trade flows, with significant quantities of copper products already shipped to the U.S. potentially being re-exported [6].

"从供应端看，参考去年进口量，当前美国精炼铜供应严重过剩。"卓创资讯铜行业分析师宋洪潇告诉第 一财经记者，今年上半年美国精炼铜进口量为86.4万吨，而去年同期仅为35万吨，同比增幅高达 147%。因此从美铜基本面现状看，此次新策影响更多是美国国内情况。 虹吸效应消失，全球精炼铜贸易流向会否转向？我的钢铁网认为，若后续美铜与伦铜价差出现倒挂，即 美铜价格低于伦铜，则前期美国囤积铜货源将大量转运出来，这将给亚太及欧洲市场带来较大库存压 力，但库存转移的前提是二者价差出现倒挂，且足够覆盖转运成本。 7月31日，A股铜矿股集体下挫。截至收盘，江西铜业（600362.SH）、洛阳钼业（603993.SH）、铜陵 有色（000630.SZ）均跌超4%，北方铜业（000737.SZ）、紫金矿业（601899.SH）分别收跌3.54%、 3.38%。 铜矿股异动主要受一则关税消息影响。当地时间7月30日，美国总统特朗普宣布，将自8月1日起对进口 半成品铜产品（例如铜管、铜线、铜棒、铜板和铜管）及铜密集型衍生产品（例如管件、电缆、连接器 和电气元件）普遍征收50%关税。铜输入材料（例如铜矿石、精矿、锍铜、阴极铜和阳极铜）和铜废 ...

Core Viewpoint - The U.S. government has imposed a 50% tariff on all semi-finished copper products and copper-intensive derivatives starting August 1, 2023, citing national security concerns [1][2][4]. Group 1: Tariff Details - The tariff applies to semi-finished copper materials such as copper pipes, wires, rods, and sheets, as well as copper-intensive derivatives like fittings, cables, connectors, and electrical components [1][5]. - Copper raw materials (e.g., copper ore, concentrates, blister copper, cathodes, and anodes) and copper scrap are exempt from this tariff [1][7]. - The tariff will not be cumulative with existing tariffs, such as the 25% tariff on automobiles, meaning if a copper product is subject to both, only the higher tariff will apply [5][10]. Group 2: Market Impact - Following the announcement, copper prices in New York dropped approximately 18% to $4.60 per pound, contrasting with a previous spike to nearly $6 per pound earlier in the month [1][7]. - Analysts noted that the focus on semi-finished products was a significant market surprise, leading to a widening price gap between U.S. and London copper prices [7][9]. - The U.S. relies on imports for about half of its refined copper, with only two domestic smelters, indicating a potential supply challenge [7][9]. Group 3: Domestic Industry Implications - The U.S. government aims to bolster domestic refining capacity by requiring that a portion of high-quality copper scrap remains in the domestic market, starting with 25% by 2027 and increasing to 40% by 2029 [9][10]. - The new regulations may lead to higher prices for various products, from construction materials to electronics, due to increased costs associated with the tariffs [11].

铜矿股异动主要受一则关税消息影响。当地时间7月30日，美国总统特朗普宣布，将自8月1日起对进口 半成品铜产品（例如铜管、铜线、铜棒、铜板和铜管）及铜密集型衍生产品（例如管件、电缆、连接器 和电气元件）普遍征收50%关税。铜输入材料（例如铜矿石、精矿、锍铜、阴极铜和阳极铜）和铜废料 不受"232条款"或对等关税约束。 特朗普将进口量最大的精炼铜排除在关税清单之外的决定出乎市场意料。消息发布当日，美国纽约商品 交易所（COMEX）铜主力合约（下称"美铜"）单日盘中暴跌超18%至4.63美元/磅，创历史最大单日跌 幅。同日，英国伦敦金属交易所（LME）铜主力合约（下称"伦铜"）收跌0.74%至9730美元/吨。美铜与 伦铜之间的价差也从一日之前每吨约3500美元缩窄至500美元，溢价从28%大幅回落至5%左右。7月31 日，美铜继续下跌，跌幅一度超过20%，回吐4月初以来全部涨幅。 美国是全球第二大铜消费国。据美国地质调查局数据，2024年美国铜消费量约180万吨，其中精炼铜160 万吨、废铜20万吨。精炼铜消费中，约一半来自进口。 一德期货首席分析师王伟伟强调，精炼铜进口关税前景并未完全消失，美国未来铜贸易政策的 ...

每经AI快讯，有投资者在投资者互动平台提问：据晋融社媒体报道，陕西斯瑞与北铜新材达成的初步 合作意向，请问这合作是关于哪方面的，对未来业绩有啥展望吗？ 北方铜业（000737.SZ）7月31日在投资者互动平台表示，陕西斯瑞与北铜新材的合作，主要是在高纯无 氧铜及高性能铜合金板带产品开发及应用推广方面。 （文章来源：每日经济新闻） ...

铜是全球消费量第三大的金属，仅次于铁和铝。根据美国地质调查局的数据，美国大约有一半的铜依赖进口，其中大部分来自智利。 隔夜，美股三大指数一度跳水下跌，截至收盘，道琼斯工业指数跌0.38%，标普500指数跌0.12%，纳斯达克指数涨0.15%。 消息面上，关税迎密集进展。 隔夜，现货黄金市场遭遇了"黑色星期三"，现货黄金价格单日下跌超过1.5%，盘中最低触及3268.02美元，创下6月30日以来新低。今日欧市盘中，黄金 小幅上涨，目前在3310元附近徘徊。 降息预期大变脸！ 首先是，特朗普宣布8月1日起对进口半成品铜等产品征收50%关税。 当地时间7月30日，美国白宫表示，美国总统特朗普签署了一项公告，宣布对几类进口铜产品征收关税。 公告显示，将自8月1日起对进口半成品铜产品（例如铜管、铜线、铜棒、铜板和铜管）及铜密集型衍生产品（例如管件、电缆、连接器和电气元件）普遍 征收50%的关税。 当天，在白宫宣布这一关税后，纽约铜价下跌逾18%。 其次是，特朗普称美国将对韩国征收15%关税。 当地时间7月30日，美国总统特朗普发文称，美国已与韩国达成"全面完整"的贸易协议。根据协议，韩国将向美国提供3500亿美元，用于 ...

智通财经APP获悉，随着全球范围内数千亿美元资金投入电网现代化改造与扩建工程，以满足数字化与 清洁能源革命带来的巨大电力需求，铜消费增速已远超行业预期。然而，智利、刚果(金)等主要产铜国 因新矿投资不足导致供应受限，这为铜价长期高位运行埋下伏笔。部分分析师预测，2030年前铜价将突 破每吨1.2万美元的历史峰值，较当前约9700美元/吨的价格上涨23%。 尽管终端用户正寻求替代方案，但铜因其卓越的导电性、耐用性和多功能性仍难以被取代。国际能源署 数据显示，全球电网投资额继2024年创下3900亿美元纪录后，今年预计将突破4000亿美元大关。 咨询公司Benchmark Mineral Intelligence(BMI)战略总监Michael Finch表示，"铜在电网基础设施中常被严 重低估。虽然各国都意识到扩建电网的必要性，却普遍低估了所需的铜材总量"，特别是美国、英国和 中国这三大关键市场的投资需求。 据该机构提供的最新预测，全球发电与输电网络升级带来的铜需求将从今年的1252万吨增至2030年的 1487万吨。 数据中心与电动汽车成需求新引擎 美国银行分析师Michael Widmer预计，到2030年 ...

格隆汇7月31日｜港股市场铜概念股集体下跌，其中，中国大冶有色金属跌超6%，江西铜业(600362)股 份跌超3%，兴业合金、中国黄金国际、中国金属利用跌超2%，五矿资源跌近2%。消息面上，美国总统 特朗普意外宣布，对铜加征新关税中，美国期铜大泻两成，创史上最大单日跌幅。 （责任编辑：宋政 HN002） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com | 代码 | 名称 | 涨跌幅 ^ | 最新价 | 总市值 | | --- | --- | --- | --- | --- | | 00661 | 中国大冶有色金属 | -6.45% | 0.058 | 10.38亿 | | 00358 | 江西铜业股份 | -3.85% | 15.980 | 553.34亿 | | 00505 | 兴业台等 | -2.94% | 0.990 | 8.91亿 | | 01258 | 中国有色矿业 | -2.65% | 7.7 ...

Core Points - President Trump announced a 50% tariff on imported semi-finished copper products, effective August 1 [2] - The tariffs are part of Trump's ongoing trade policy, which has previously targeted various goods including steel [2][4] - Mexico, as the third-largest exporter of copper products to the U.S., is expected to face significant economic impacts from these tariffs [5][7] Impact on Mexico - The tariffs are projected to result in approximately $1 billion in losses for Mexico annually, as it exported $976 million worth of copper products to the U.S. in 2024 [7] - In the first five months of 2025, Mexico's copper product exports to the U.S. increased by 12% compared to the same period last year, generating $419 million in revenue [8] - The tariffs may also lead to increased competition among domestic U.S. traders, affecting the overall market dynamics [9]

Group 1: Trade Agreements and Tariffs - The U.S. has reached a "comprehensive" trade agreement with South Korea, imposing a 15% tariff on South Korean goods while allowing full trade access for U.S. products [3] - South Korea will invest $350 billion in U.S.-controlled projects, including $150 billion specifically for U.S.-Korea shipbuilding cooperation, and will purchase $100 billion worth of liquefied natural gas [3] - Starting August 1, the U.S. will impose a 25% tariff on goods from India, citing high tariffs and non-tariff barriers as reasons for the punitive measures [3][4] Group 2: Impact on Other Countries - Brazil will face a 40% tariff increase, bringing the total tariff to 50%, although certain products like wood pulp and oil are exempt [4] - The U.S. will also impose a 50% tariff on imported copper products, which has led to a significant drop in copper futures and affected major copper producers [4][5] Group 3: Economic Implications - Analysts warn that the copper tariffs could raise prices on various products, potentially impacting consumer costs in the U.S. [5] - The Federal Reserve has maintained the federal funds rate at 4.25% to 4.50%, with two officials dissenting for an immediate rate cut, reflecting ongoing economic concerns [6][7] - Recent GDP growth of 3% in Q2 has been viewed skeptically, with analysts suggesting that the improvement is largely due to reduced imports rather than robust consumer spending [9]