追踪一篮子铜矿公司股票的ETF——铜矿ETF-Global X(COPX)在今日夜盘交易时段大幅下跌5.19%，引起了市场关注。
消息面上，此次下跌发生在伦敦期铜价格飙升至历史新高之后。根据市场分析，日间伦铜主力合约一度大涨超10%，创下历史纪录，这主要由空前的投机资金流入、美元走弱预期以及地缘政治避险需求共同推动。然而，多家机构分析师警告，此轮凌厉涨势已明显脱离供需基本面，高盛集团指出，高企的铜价正在抑制下游实物需求，中国制造业需求走弱尤其明显，市场可能面临一轮“技术性调整”。华泰期货报告也提及，铜价在短时内急剧拉涨后，存在冲高回落的压力。
此外，有分析认为，金属市场呈现板块轮动特征，投机资金在推动黄金、白银创下新高后，转而涌入铜等基本金属。但伦敦金属交易所(LME)监控的铜库存处于高位，现货市场供应相对充裕的信号与期货价格涨势形成背离。市场担忧，若投机热情退潮，价格或将回归基本面逻辑，这可能是导致以铜矿股为标的的ETF在夜盘出现获利了结或避险抛售的原因。
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