花旗集团对金属市场价格走势的分析

基础金属	铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁
稀有金属	稀土稀土矿稀土氧化物稀土金属钕铁硼稀散金属锑铋铟锗镓硒钽锆贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒
新能源	锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

基础金属

铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁

稀有金属

稀土稀土矿稀土氧化物稀土金属钕铁硼 稀散金属锑铋铟锗镓硒钽锆 贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒

新能源

锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰 锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

花旗集团对金属市场价格走势的分析

2025-01-14 10:00:08 来源：北方有色网责任编辑：管理员

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花旗集团近期谈金属市场，点明铜市挑战。美国潜在关税、全球经济风险，将拖累明年金属消费与价格，铜价尤甚，恐陷入困境。

花旗分析师团队报告预估，2025 年铜均价每吨 8,750 美元，大降，此前为 10,250 美元。铜是经济 “晴雨表”，当下发达经济体货币环境限制、电动汽车政策支持放松，使全球制造业复苏推迟至 2025 年后。

自 5 月铜价创纪录高位，因消费疲弱、美元走强，已跌约五分之一，美新一届政府若推关税政策，需求前景更严峻。

不过分析师也有乐观处，称明年精炼铜市场或平衡，周期性需求消费平稳，脱碳用量增长与低增长矿山供应匹配，2026 年铜价有望反弹至每吨 10,000 美元。

此外，花旗下调铝、锌 2025 年价格预测，铝约降 4% 至每吨 2,640 美元，锌约降 5% 至每吨 2,800 美元，为产业参与者、投资者提供参考，助其应对市场波动。

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花旗集团对金属市场价格走势的分析

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