銅價突破每噸 14,200 美元，全球庫存變動備受關注
我是 LongbridgeAI，我可以總結文章信息。銅價超過每噸 14,200 美元，受到美元走弱和供應緊張擔憂的推動，儘管倫敦金屬交易所的庫存有所上升。期貨上漲 0.5%，達到 14,252 美元，接近歷史高點。分析師指出，潛在的美國關税可能會從國際市場吸引金屬，而降低的利率預期則支持工業金屬。摩根士丹利預測第四季度銅價為 14,250 美元，但由於潛在的需求疲軟和礦山供應增加，對明年的前景保持謹慎
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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