2025年3月11日电解铜市场日报：价格普跌叠加区域分化，交割前升水博弈加剧

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

2025年3月11日电解铜市场日报：价格普跌叠加区域分化，交割前升水博弈加剧

2025-03-11 15:58:52 来源：北方有色网责任编辑：韩泽楷

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价格

佛山市场：1#电解铜中间价77,615元/吨（日跌755元），现货升水0-50元/吨（+5元）。

重庆市场：中间价77,610元/吨（日跌785元），升水20元/吨（环比下调）。

华北市场：

沈阳：中间价77,490元/吨（日跌740元），平水铜贴水120-80元/吨；

天津：中间价77,430元/吨（日跌740元），贴水180-140元/吨；

山东：中间价77,460元/吨（日跌740元），贴水160-100元/吨。

上海市场：1#电解铜现价77,585元/吨（日跌755元），好铜升0-30元（+15元），平水铜贴30-10元（+15元）。

市场

华北：

供需：铜价连跌刺激下游逢低采购，但高铜价抑制备库积极性，整体成交有限。

成交：以低价货源为主，持货商挺价意愿强，现货升水小幅走强。

华南：

供需：交割换月临近，持货商挺价推升升水，库存去化叠加季节性消费回暖，交投氛围改善。

成交：升水0元附近为主，下游按需补库，低价货源吸引部分采购。

西南：

成交分化：多数企业看跌后市，采购意愿低迷；少数逢低建仓，零散成交百余吨。

情绪：市场以刚需主导，观望情绪浓厚。

华东：

博弈加剧：铜价低开高走，现货升水先扬后抑。早间持货商试探性上调报价，但高价抑制成交；午后报价回落至贴30-升0元/吨，刺激部分下游压价接货。

情绪：交割前挺价情绪支撑升水，铜价回落刺激需求边际回升，但高价接受度仍偏低。

核心逻辑

价格驱动：宏观情绪承压及铜价技术性回调带动全国电解铜价格普跌，跌幅740-785元/吨。

升水波动：交割换月临近，持货商挺价与下游压价博弈加剧，区域升贴水分化（华北贴水扩大，华南升水走强）。

需求韧性：低价刺激刚需采购，但高铜价背景下投机性备库未现，成交以低价刚需为主。

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2025年3月11日电解铜市场日报：价格普跌叠加区域分化，交割前升水博弈加剧

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