金吾财讯 | 美股盘初铜概念板块强势，截止发稿，Ero Copper（ERO）涨10.06%，Ivanhoe Electric（IE）涨8.91%，Taseko Mines（TGB）涨6.92%，麦克莫兰铜金（FCX）涨6.54%，南方铜业（SCCO）涨6.49%。消息面上，LME铜价接连走高创下历史新高，年内累计上涨17%，近12个月涨幅达47%。市场押注美国或将对精炼铜加征关税，交易商为套利将大量铜运往美国，重塑全球铜流动格局。整体全球铜库存并不算低，但库存向美国集中，LME仓库铜库存持续下滑，造成海外局部供应紧张，市场并非由全球需求过热驱动。目前LME铜维持现货升水结构，近端供应偏紧，前期库存低位还触发过逼空行情。美国商务部关于铜关税的相关报告迟迟未落地，关税预期成为左右铜价的核心变量。
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