2025年8月20日电解铜市场日报

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8月20日电解铜市场日报

2025-08-20 17:32:20 来源：北方有色网责任编辑：韩泽楷

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一、今日价格概述

2025年8月20日，中国主要城市电解铜价格全线下跌，9个监测城市均出现不同程度回调，跌幅介于290元/吨至350元/吨之间，平均跌幅约312元/吨。其中，重庆跌幅最大（-350元/吨），广州跌幅最小（-290元/吨），具体价格如下：

二、下跌核心原因

今日价格下跌为多重因素叠加结果，主要包括国际铜价传导、国内需求疲软及供应端过剩压力三方面：首先是国际铜价传导影响，伦敦金属交易所（LME）铜价今日早盘下跌1.2%（报9200美元/吨），主要因美元指数走强（日内涨0.5%）压制了以美元计价的铜价，其下跌直接传导至国内，带动沪铜及现货价格同步下跌；其次是国内需求疲软的核心矛盾，7月房地产开发投资同比下降5.8%（连续6个月负增长）、制造业PMI为49.2%（连续2个月低于荣枯线），导致下游企业（如家电、汽车、电线电缆）对电解铜的采购量明显减少，据北方有色网调研，今日下游采购量较昨日减少约20%，仅刚需企业少量补库；再者是供应端过剩压力加剧，国内冶炼厂产量增加（7月产量98万吨，同比增3.2%），叠加8月进口铜到港量上升（上旬到港15万吨，较7月同期增20%），导致市场供需失衡，进一步压制价格。

三、市场参与者反应

今日价格下跌背景下，市场各参与方反应分化：贸易商因价格下跌过快而持货观望，出货积极性下降，部分贸易商明确表示“暂时不考虑出货，等待反弹”，今日出货量较昨日减少约30%；下游企业（如家电制造商）则因对后续价格仍有下跌预期，观望情绪浓厚，普遍延迟采购，仅电线电缆等刚需企业因生产需要少量补库，据北方有色网调研，今日下游采购量较昨日减少约20%；期货市场方面，沪铜主力合约2510今日下跌1.5%（收于78500元/吨），成交量较昨日增加15%，进一步显示市场做空情绪升温。

四、未来走势判断

对于未来走势，短期（1-2周）仍将承压，若LME铜价受美元走强影响继续下跌，国内价格可能继续回调，预计明日跌幅收窄至100-200元/吨，需关注国际铜价及美元指数变化；而长期（1-3个月）有望逐步回升，随着稳增长政策（如房地产“认房不认贷”、制造业减税）落地，房地产及制造业需求将逐步修复，叠加2025年全球新能源领域铜需求预计增长4%，价格有望逐步回升。

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2025年8月20日电解铜市场日报

一、今日价格概述

二、下跌核心原因

三、市场参与者反应

四、未来走势判断

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