铜价突破每吨 14,200 美元，全球库存变动备受关注
我是 LongbridgeAI，我可以总结文章信息。铜价超过每吨 14,200 美元，受到美元走弱和供应紧张担忧的推动，尽管伦敦金属交易所的库存有所上升。期货上涨 0.5%，达到 14,252 美元，接近历史高点。分析师指出，潜在的美国关税可能会从国际市场吸引金属，而降低的利率预期则支持工业金属。摩根士丹利预测第四季度铜价为 14,250 美元，但由于潜在的需求疲软和矿山供应增加，对明年的前景保持谨慎
By Giulia Petroni
Copper prices traded above $14,200 a metric ton, supported by a weaker U.S. dollar and persistent concerns over tight physical supplies, even as a sharp rise in LME warehouse stocks offered some relief.
"A surge in deliveries into LME warehouses helped ease the market's most acute tightness," analysts at ANZ said. "Nevertheless, concerns over import tariffs mean the U.S. could still draw additional metal from international markets."
In early European trading, three-month futures on the London Metal Exchange rose 0.5% to $14,252 a ton, putting prices up nearly 5% this month. A close above $14,215.50 would set a record settlement high, according to LSEG data. The intraday record is $14,527.50, set in January.
Copper's gains have been fueled in part by expectations that potential U.S. tariffs will pull more metal into the country, tightening supplies elsewhere. But a recent build in LME inventories has eased some of that pressure and helped cap prices in the short term.
The metal has also benefited from a weaker dollar as traders have pared expectations for an imminent Federal Reserve rate increase. Lower rates can support industrial metals by weakening the dollar and reducing the cost of financing inventories.
Analysts at Morgan Stanley see copper at $14,250 a ton in the fourth quarter, saying the U.S. decision on tariffs remains the key catalyst for the market in the second half of the year. However, they remain more cautious on next year's outlook, as U.S. demand could weaken if tariffs are imposed or ruled out, while additional mine supply could make the global market more comfortable.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
August 24, 2026 06:12 ET (10:12 GMT)
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