According to the CITIC Securities Research Report, multiple benefits have pushed copper prices to hit 14,000 US dollars again. Core drivers such as lower inventories and supply disturbances are expected to continue. Most potential tariff paths are still favorable to copper. Neutral assumptions are that copper prices are expected to hit 15,000 US dollars within the next year. Currently, the copper sector is still at the beginning of valuation repair. The formation of price increase expectations and the improvement in market sentiment will continue to drive valuation repair.

According to the CITIC Securities Research Report, multiple benefits have pushed copper prices to hit 14,000 US dollars again. Core drivers such as lower inventories and supply disturbances are expected to continue. Most potential tariff paths are still favorable to copper. Neutral assumptions are that copper prices are expected to hit 15,000 US dollars within the next year. Currently, the copper sector is still at the beginning of valuation repair. The formation of price increase expectations and the improvement in market sentiment will continue to drive valuation repair.