金属行业周报:宏观因素影响当前价格 后续关注美联储议息会议

渤海证券
Dec 09, 2025

投资要点:行业情况及产品价格走势初判钢铁:随着需求淡季逐步深入,钢铁行业基本面压力将逐步增加,当前供需矛盾并不突出情况下,短期钢价或震荡运行。铜:海外大型矿山事故扰动导致矿端供应持续偏紧,在铜价下方形成支撑。美联储降息预期升温叠加基本面共振,关注12 月份美联储降息结果以及后续降息路径预测,宏观利好逐步被市场消化后,短期铜价上涨动力或减弱。铝:当前铝价的向上驱动力更多来自宏观流动性宽松预期,宏观...

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