金属与矿业：铜、铝和锌本金属综述

August 22, 2025 05:50 PM GMT metal&ROCK | Europe M Idea Base Metals Round Up Modest downside for LME Copper: The support for LME copper prices that came from US front-loading demand ahead of expected copper import tariffs is likely to fade after the decision to exclude refined copper. We estimate front loading YTD added around 2% to annual copper demand, drawing down ex-US inventories and supporting prices, but now leaves the US very well stocked. China demand indicators are also softening, bringing a cauti ...