According to the CITIC Securities Research Report, inventory inflection point has been reached since mid-November. Combined with expectations of interest rate cuts and domestic production cuts, LME copper prices are expected to accelerate towards 12,000 US dollars/ton during the year. Looking ahead to next year, the dual narrative of “US copper hoarding” and “domestic production cuts” is expected to resonate at an accelerated pace, and the supply gap is expected to widen by 60%. It is expected that 12,000 US dollars will become a fresh starting point for copper prices. The copper plate configuration is fully recommended.

According to the CITIC Securities Research Report, inventory inflection point has been reached since mid-November. Combined with expectations of interest rate cuts and domestic production cuts, LME copper prices are expected to accelerate towards 12,000 US dollars/ton during the year. Looking ahead to next year, the dual narrative of “US copper hoarding” and “domestic production cuts” is expected to resonate at an accelerated pace, and the supply gap is expected to widen by 60%. It is expected that 12,000 US dollars will become a fresh starting point for copper prices. The copper plate configuration is fully recommended.