Kuv {. macro pom: Cov ntaub ntawv nyiaj txiag thiab txoj cai divergence intertwined, ntxiv dag zog ntawm Asmeskas las suppresses tooj liab nqi
1. Kev Lag Luam Asmeskas Cov Lus Cog Tseg tau txais kev cia siab thiab 0./0%, qhia tias kev rov ua haujlwm dhau los ntawm kev siv nyiaj txiag hauv cov neeg siv khoom; Thawj cov lus tshaj tawm poob rau 221, {}} (}} (} qhov kev ua lag luam tshiab nyob rau xyoo 195,600, tseem muaj kev lag luam keeb kwm kev cog lus.
{{02.} sab hauv txoj cai sib txawv hauv tsoomfwv hauv tsoomfwv cov chaw muaj nqis heev:
- Hawkish Stance: Pub tus tswv xeev Kugler ceeb toom tias tus nqi ntawm cov neeg tau txais kev cia siab, ncaj qha rau cov neeg muaj kev cia siab ntawm cov khoom lag luam ntawm tsev neeg thiab cov hluav taws xob.
- Kev xav pom kev xav: San Francisco Foo Presider Dales ntseeg tias cov lus twv yuav muaj qee qhov kev cuam tshuam me thiab txhawb nqa ob qho kev nyiam ua kom kawg ntawm lub xyoo; Pub tus tswv xeev Warler tau npaj siab rau peb yam rau 254%, thiab qhov tshwm sim ib ntus ntawm kev ua hauv lub Xya Hli nce siab txog 30%) {5 5 {5 5}
- Asmeskas las thiab Asmeskas las cov nyiaj tau los ntawm 0459 ntxiv txij li lub hlis 36% rau 98.95 txij li lub Rau Hli 23)
3.} ntiaj teb kev siv nyiaj txaus siab, tab sis kev loj hlob ntawm cov neeg muag khoom hauv Asmeskas, txuas nrog kev siv nyiaj los ntawm Asmeskas
II {{. mov thiab thov 基本面: xoob muab thiab cov lus xav tau txwv ntawm cov nqi tooj liab upward ntawm tooj liab cov nqi
1.} Cov zis siv thoob ntiaj teb tau nce ntxiv hauv kev tawm txawv teb chaws Global copper production increased by 190,000 tons (+5.1%) from January to April, with the restart of mines such as Kipushi and Antamina driving an increase of over 600,000 tons in 2025, the trend of loose supply from the mining sector is clear. China's output reached a new high: refined copper output in June nce los ntawm 14% xyoo-nyob rau-xyoo, mus txog qhov siab tshiab; Cov nyiaj tau txais txiaj ntsig zoo nyob rau hauv smelting sector (ua tus nqi them tau sawv mus rau 3,600 yuan / tuj) thawb tus nqi tshiab nyob rau hauv lub xyoo thib ob yog xav ntxiv kom xoob lub chaw muab khoom ntawm cov neeg muag khoom.
2.}}}} Xav tau sab: Kev thov hauv tsev tsim khoom vs .} qhov xav tau sab nraud
- ruaj khov infrastrastructure xav tau: kev loj hlob siab hauv kev txhim kho lub zog thiab kev txhim kho tseem ceeb hauv kev ua haujlwm tshwj xeeb yog 1}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}} 9}}
- txuas ntxiv luag ntawm cov av: muag thiab ua tiav cov khoom tsis muaj txiaj ntsig, tab sis nws yuav tsum tsis tau txhim kho hauv av yuav txo ntxiv {}}
- Cov khoom siv thiab tsev neeg cov khoom siv: 1-5}}}}}}}}}}}}}}}}}} Cov khoom siv hauv tsev pom pom kev poob qis hauv lub Plaub Hlis (tub yees tau muab cov lus tsis zoo xyoo), thiab qhov kev thov thawm xyoo thiab qis dua thaum kawg.
- Ntsib cov khoom lag luam tooj liab uas suav rau hauv Lub Yim Hli 1), cov nyhuv ntawm lub Yim Hli ua tej zaum yuav siv txoj cai kev ua tiav.
Iii {. Cov lus piav thiab ‡ ua cov khoom lag luam, kev sib tw, kev ua lag luam sib txawv yog qhov tsis sib haum
{1. LME Cov Lus Qhia Txog Cov Khw Muag Khoom Siv Nyiaj Tooj Guangdong Creditong Bonded Zones yog 73,900 tons (ib qho kev txo qis ntawm 0 {}}} Txawm li cas los xij, cov khoom muag tag nrho tseem nyob ntawm qhov tseem ceeb.
