悖论与扭曲:为何白银、铜与铝在全球需求疲软之际,却引爆了交易价格?

future投研室
Dec 08, 2025

一、市场悖论:需求疲软与价格暴涨并存全球经济增长放缓背景下,白银、铜与铝却逆势大涨:白银:2025 年涨幅超 90%,突破 57 美元 / 盎司,创历史新高铜:价格突破 11,200 美元 / 吨,创历史记录,年内涨幅达 40%铝:升至 3 年高位,尽管供应过剩,价格仍保持韧性然而,工业需求确实疲软:铜:中国铜杆企业开工率降至 2021 年来低位,新增订单下降 5.51%白银:电子行业用银量同比降...

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