LME 铝价大幅上涨至八周最高水平及其影响因素解析

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

LME 铝价大幅上涨至八周最高水平及其影响因素解析

2025-01-20 12:00:52 来源：北方有色网责任编辑：管理员

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中国经济数据向好：中国作为头号金属消费国，2024 年四季度经济明显回升，GDP 同比增长 5.4%，12 月份规模以上工业增加值同比实际增长 6.2% 等，良好的经济数据吸引了追随动能的资金，提振了铝的需求预期，从而推动铝价上涨。
美国潜在贸易关税不确定性搁置：尽管周一美国当选总统上台后可能征收关税使全球 2025 年前景不明朗，但在当时，这种不确定性暂时被搁置，未对铝价上涨造成阻碍4。
CTA 买盘推动：铝的上涨趋势吸引了商品交易顾问（CTA）的买盘，这些基金使用计算机模型来追踪动能，进一步推动了铝价上涨。
供应紧缩担忧：欧盟若禁止从俄罗斯进口原铝，引发对欧盟供应紧缩的担忧，本周支撑了铝价。同时，LME 现货对三个月期铝合约贴水收窄至 10.4 美元，为 10 月以来最低，也表明市场对近期供应的担忧，进而支撑铝价。

LME 铜价下跌原因

LME 三个月期铜下跌 0.44% 至每吨 9,190 美元，主要是受此前连续 11 个交易日上涨后的获利回吐打压，同时美国 Comex 期铜下跌，美元走强也对其产生了一定影响。

LME 锌价上涨原因

LME 三个月期锌上涨 2.35%，至每吨 2,942 美元，主要是受 LME 注册仓库的库存持续下滑支撑，LME 锌库存总量创下 2024 年 2 月以来最低水平。

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LME 铝价大幅上涨至八周最高水平及其影响因素解析

LME 铜价下跌原因

LME 锌价上涨原因

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