金吾财讯 | 美股铜概念股整体强势，截至发稿，Ivanhoe Electric (IE) 涨 2.02%，麦克莫兰铜金 (FCX) 涨 2.16%，泰克资源有限公司 (TECK) 涨 1.83%，必和必拓 (BHP) 涨 1.83%，力拓 (RIO) 涨 1.72%，Hudbay Minerals (HBM) 涨 1.53%。整体来看，原料端中东硫磺供应的紧张，需求端AI应用与基建开发的火爆等要素共同带动了铜价上行。LME期铜价格周二上涨至每吨14100美元附近，逼近1月份创下的每吨14500美元以上历史高位。此外，中信证券研究也指出，随着自由港再度推迟印尼项目复产进度并全面下调2026-27年产量指引，全球主要铜矿企业2026年产量预期已正式陷入下滑，且后续极端天气的潜在影响或带来供给扰动的扩大化。中信证券认为，基于坚实的供需逻辑与可预见的较低库存水平，以及宏观压制减弱，2Q26铜价有望站稳13000美元/吨，叠加供需预期差的进一步兑现，后续铜价有望冲击前高。基于盈利弹性与估值弹性的叠加，当前铜板块配置性价比愈发凸显。
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