（央视财经《正点财经》）近期，国际铜价走势也引发关注，伦敦金属交易所铜期货价格一度接近每吨 1.1万美元。投资者获利回吐，14日，伦敦铜期货价格下跌超2%，报每吨10578美元。但依然在历史高 位徘徊。那么，导致铜价大涨的驱动因素有哪些？市场又如何看待铜价的后续走势？来看CNBC蒋钰从 新加坡带来的分析。 CNBC 蒋钰：伦敦金属交易所LME的铜期货价格，今年迄今为止已经上涨超20%。近期徘徊在历史高 位，大涨的背后，有多重因素推动。首先是市场对供应短缺的担忧。 近期，全球三大铜矿都遭遇了生产问题。9月全球第二大铜矿，位于印度尼西亚的格拉斯伯格铜矿，因 山体滑坡暂停运营。运营方自由港-麦克莫兰公司宣布合同遭遇不可抗力，预计最早要到2027年才能恢 复到事故前的生产水平。此外，智利的埃斯康迪达铜矿，以及刚果（金）的卡莫阿-卡库拉铜矿也面临 各种运营干扰，如罢工、地质结构不稳等，进一步收紧了全球铜供应。 在供应趋紧的背景下，今年铜却迎来了多重新增需求。首先是人工智能热潮带动的数据中心建设；其 次，各国国防支出持续上升；最后，再加上全球电气化进程不断加快。资深大宗商品分析师杰夫·柯里 甚至形容，铜就是新的石油。在电 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 10月15日，盛屯矿业（维权）收涨8.06%，收盘价为11.26元，发生1笔大宗交易，合计成交量30万股， 成交金额282万元。 第1笔成交价格为9.40元，成交30.00万股，成交金额282.00万元，溢价率为-16.52%，买方营业部为中国 银河证券股份有限公司长沙芙蓉中路证券营业部，卖方营业部为华泰证券股份有限公司广州兴民路证券 营业部。 进一步统计，近3个月内该股累计发生8笔大宗交易，合计成交金额为2610.4万元。该股近5个交易日累 计上涨9.11%，主力资金合计净流出4.82亿元。 责任编辑：小浪快报 ...

格隆汇10月15日｜据央视财经，今年，国际铜价已涨超20%，徘徊在历史高位。大涨背后，有多因素推 动：①全球主要铜矿都遭遇生产问题，加剧市场供应担忧；②国际铜业研究组织下调今年全球矿山产量 增长预期；③铜迎来多重新增需求。首先是人工智能热潮带动的数据中心建设；其次，各国国防支出持 续上升；最后，全球电气化进程不断加快。全球矿业巨头必和必拓预计，到2050年全球铜需求将增长高 达70%。高盛预计，从明年起，铜价将进入新的高价交易区间。资深大宗商品分析师甚至形容，铜就是 新的石油。在电气化时代，铜具有重要的战略地位。 ...

格隆汇10月15日丨金徽股份(603132.SH)公布,于2025年10月15日收到公司持股5%以上股东甘肃绿色矿产 投资发展基金(有限合伙)的《关于减持股份及权益变动的告知函》,其于2025年10月9日至2025年10月14 日,通过集中竞价减持股份为371.25万股,占公司当前总股本的比例为 0.38%,通过大宗交易减持股份为490 万股,占公司当前总股本的比例为0.50%,合计减持股份数为861.25万股,占公司当前总股本的比例为 0.88%。 ...

不久前，澳大利亚铁矿石巨头必和必拓低头认输，宣布从今年第四季度起，对华铁矿石现货交易的30%将以人民币结算。这一看似简单的结算方式变化背 后，是中国首次在全球大宗商品定价权上取得的重大突破，更是一记砸向美元霸权的重锤。 回顾过去二十多年，中国钢铁行业在铁矿石谈判桌上吃尽了苦头。全球铁矿石市场被澳大利亚必和必拓、力拓和巴西淡水河谷三大巨头牢牢掌控，形成了坚 固的卖方垄断联盟。2008年，三大矿商随便抛出一个"矿场检修"的理由，就能让铁矿石价格翻两倍多；即便后来中国钢企试图集体谈判，对方也根本不屑一 顾。原因很简单——中国80%以上的进口铁矿石都依赖这三巨头，根本没有讨价还价的筹码。 那段时期的数据令人心酸：国外矿商的利润率常年超过100%，巅峰时甚至达到150%，而中国钢企的利润率最低时仅有0.71%。在如此悬殊的利润分配下， 国内多少小钢厂凄惨倒闭，幸存下来的也只能在盈亏线上苦苦挣扎。 被动挨打的局面必须改变，但破局需要智慧和耐心。中国采取的第一步，也是最重要的一步，就是终结国内钢企"各自为战"的局面。曾经，国内钢厂为了抢 夺有限的铁矿石货源，不惜互相抬价，结果让外国矿商坐收渔利，笑得合不拢嘴。直到国家出手整 ...

每经AI快讯，有投资者在投资者互动平台提问：华金矿业、埃玛矿业复产复产情况如何呢？ 盛屯矿业（600711.SH）10月15日在投资者互动平台表示，您好，感谢您对公司的关注。华金矿业于 2024年底复产复工，埃玛矿业按年度生产计划，已正常投产。 （文章来源：每日经济新闻） ...

Core Viewpoint - The price of copper is experiencing significant increases due to supply shortages and rising demand from sectors like data centers, with recent futures prices nearing historical highs [2][4][6]. Group 1: Copper Price Trends - As of October 13, the LME three-month copper futures reached $10,820.5 per ton, close to the historical peak of $11,104.5 per ton set in May 2024, driven by speculation on expanding data center demand [4]. - Following a landslide incident at the Grasberg copper mine in Indonesia on September 8, copper futures prices surged by 8.5% from the previous day's close [4]. Group 2: Supply and Demand Dynamics - The Grasberg mine, one of the largest copper mines globally, is expected to see a production reduction of approximately 35% by 2026, significantly impacting copper supply [4]. - Citigroup has adjusted its global copper supply forecast, predicting a 0.1% increase in 2025 to 23.15 million tons and a 1.3% increase in 2026 to 23.46 million tons, down from previous estimates [4][6]. Group 3: Future Consumption and Market Activity - Long-term copper consumption is projected to grow, with a 2.9% increase expected by 2026, leading to a supply gap of 400,000 tons, which is 100,000 tons larger than earlier estimates [6]. - Speculative funds are increasingly moving into the copper market, with net long positions reaching approximately 56,000 contracts, the highest level in about six months [6]. Group 4: Mining Development and M&A Activity - The U.S. is planning to develop the Resolution copper mine, potentially the largest in the country, although local opposition persists [7]. - Mining companies are more inclined to pursue acquisitions rather than develop new mines due to the lengthy development timelines, with recent mergers indicating increased M&A activity in the sector [7].

2025年以来，黄金价格涨势之猛，远超市场预期。 记者丨 林汉垚 见习记者冯紫彤 编辑丨杨希 国际国内金价再创新高。 10月15日，现货黄金日内涨超1%，盘中多次突破4200美元/盎司。多家黄金珠宝品牌公布的境内足金饰品价格也水涨船高，其中较高的已突破 1235元/克关口，单克均较10月1日上涨超100元。 面对持续"狂飙"的金价，银行"积存金"的起存门槛正以罕见频率密集上调。 10月14日，中国银行发布公告表示将调整积存金产品的购买条件，将最小购买金额由850元上调至950元。值得一提的是，这是该行年内第四次 调整，起存门槛已较年初足足提高了300元。 截至10月10日伦敦金涨势 以上海黄金交易所Au9999为例，其价格从年初每克614元一路跃升，接连突破多个整数关口：3月站上700元每克，4月冲过800元每克，9月突 破900元每克，至10月15日盘中更触及每克960元的历史新高，年内累计涨幅已超过55%。 金饰市场表现则更为强劲。以周大福为例，其饰品金价早已突破千元，令不少消费者直呼"买不起"。 金价因何持续攀升？未来是否还有上涨空间？普通投资者又该如何理性参与？ "积存金"持续火热 多家银行紧急调高门 ...

（责任编辑：宋政 HN002） 格隆汇10月15日｜瑞银发表报告，将2026至28年各年铜价预测分别上调8%、19%及11%，至每吨11464 美元、13095美元及12809美元，以反映行业基本面收紧，主要因印尼Grasberg矿场下调产量指引，以及 刚果(金)Kamoa Kakula和智利El Teniente发生事故，加上今年秘鲁发生抗议，可能加剧矿场供应的短期 风险。该行预计2026年精炼铜需求将增长3%，而相应供应仅增长不足1%，将推动市场转入短缺状态， 并导致库存下降，从而支持铜价持续上行。 【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 ...

Report Industry Investment Rating No information provided in the given content. Core View of the Report - The change in Sino-US trade relations has led to an increase in risk aversion demand, with significant fluctuations in risk assets. The performance within the non-ferrous metals sector is relatively differentiated, with copper showing relatively large fluctuations, while other non-ferrous metals tend to be more cautious in consolidation [12]. - For different non-ferrous metals, specific market conditions and investment suggestions are provided, such as for copper, it is recommended to gradually go long on dips; for zinc, pay attention to the opening of the export window; for aluminum and its industrial chain, adopt a short - selling approach, etc. [4][5][6] Summary According to Relevant Catalogs First Part: Non - Ferrous Metals Operating Logic and Investment Suggestions - **Macro Logic**: Sino - US trade relations have increased risk aversion demand, causing significant fluctuations in risk assets. Non - ferrous metals show internal differentiation, with copper having larger fluctuations and others being more cautious [12]. - **Investment Suggestions for Each Metal**: - **Copper**: The supply pressure cannot be relieved, and demand is expected to increase in the fourth quarter. It is recommended to go long on dips, with a short - term upper pressure range of 89,000 - 90,000 yuan/ton and a lower support range of 83,000 - 84,000 yuan/ton [4][14]. - **Zinc**: Pay attention to the opening of the export window. It is expected to continue to fluctuate and consolidate, with an upper pressure around 22,500 - 22,600 and a lower support around 21,800 - 22,000 [5][14]. - **Aluminum Industry Chain**: Adopt a short - selling approach, with different pressure and support ranges for aluminum, alumina, and cast aluminum alloy, and consider buying out - of - the - money options for protection [6][15]. - **Tin**: Maintain a short - selling operation, with an upper pressure range of 290,000 - 300,000 and a lower support range of 260,000 - 270,000. Consider buying out - of - the - money put options [7]. - **Lead**: The price is expected to continue to fluctuate within a range. Consider a wide - range option double - selling strategy, with a support at 16,500 - 16,600 and a pressure at 17,000 - 17,200 [8]. - **Nickel and Stainless Steel**: Nickel is in a consolidation trend, with an upper pressure of 125,000 - 128,000 yuan and a lower support of 118,000 - 120,000 yuan. Stainless steel is in a weak - fluctuating range, with a support at 12,500 - 12,600 and a pressure at 13,000 - 13,200 [9]. Second Part: Non - Ferrous Metals Market Review - The closing prices and daily percentage changes of various non - ferrous metals are presented, such as copper closing at 84,410 yuan with a - 0.83% change, zinc at 22,220 yuan with a - 0.16% change, etc. [18][19] Third Part: Non - Ferrous Metals Position Analysis - The net long - short strength comparison, net long - short position differences, changes in net long and short positions, and influencing factors of various non - ferrous metal futures contracts are shown, including沪金(AU2512),沪银(AG2512), etc. [20] Fourth Part: Non - Ferrous Metals Spot Market - The spot prices and percentage changes of various non - ferrous metals are provided, such as the Yangtze River Non - Ferrous copper spot price at 86,060 yuan/ton with a 1.06% change, and the Yangtze River Non - Ferrous 0 zinc spot price at 22,200 yuan/ton with a - 0.05% change [21][23] Fifth Part: Non - Ferrous Metals Industry Chain - For different non - ferrous metals, relevant industry chain data charts are provided, including inventory changes, processing fees, and price comparisons, such as copper exchange inventory changes, zinc inventory changes, etc. [25][28] Sixth Part: Non - Ferrous Metals Arbitrage - Various arbitrage - related data charts for non - ferrous metals are presented, such as the copper Shanghai - London ratio change, zinc Shanghai - London ratio change, etc. [57][59] Seventh Part: Non - Ferrous Metals Options - Option - related data charts for non - ferrous metals are provided, including historical volatility, weighted implied volatility, and trading volume and open interest changes of options, such as copper option historical volatility, zinc option weighted implied volatility, etc. [73][75]