2025年11月5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11月5日电解铜市场日报

2025-11-05 17:24:15 来源：北方有色网责任编辑：韩泽楷

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一、今日价格概况

2025年11月5日，中国主要城市电解铜价格全线大幅上涨，涨幅均超1300元/吨，其中上海、武汉分别报85240元/吨、85260元/吨，重庆涨至85200元/吨，广州、北京、济南等城市价格也在85090-85190元/吨之间，全国均价约85180元/吨，较11月4日上涨约1370元/吨，创2025年三季度以来单日最大涨幅。

二、价格上涨核心驱动因素

此次价格上涨主要受供需紧平衡、宏观因素及市场情绪共同驱动：供应端，2025年1-10月国内电解铜产量约920万吨，同比增长2.8%低于预期，部分冶炼厂因铜精矿供应紧张减产（江西、云南等地产能利用率降至85%以下）；需求端，新能源行业爆发式增长（10月新能源汽车销量82万辆、光伏装机量12GW，同比分别增长32%、45%），传统行业（家电、房地产）逐步企稳，拉动电解铜需求约15万吨/月；库存方面，SHFE电解铜库存降至18万吨（较9月底减少25%），为2024年以来最低，库存去化支撑价格。宏观上，美元指数较10月底下跌1.5%（报104.2），LME铜价上涨2.1%（10050美元/吨），带动国内铜价联动走强；国内央行10月降准释放5000亿元流动性，市场资金面宽松提升风险偏好。市场情绪上，SHFE铜期货主力合约收盘价85300元/吨（涨1400元/吨），成交量放大至28万手，机构（中信期货、国泰君安）上调四季度价格预期至86000-88000元/吨，多头入场推动短期涨幅。

三、后续市场展望

后续市场展望方面，短期或维持高位震荡，支撑来自库存低位、新能源需求增长及美元走弱，压力则是部分冶炼厂11月下旬逐步恢复产能及市场对美联储12月加息的担忧；长期来看，价格将持续走强，因新能源行业需求仍将保持20%以上增长（电动车、光伏用铜需求拉动），全球铜精矿产量增长缓慢（2025年预计增长1.2%）导致供需缺口逐步扩大（2026年预计缺口约30万吨），叠加中国稳增长政策发力及美元长期走弱趋势，以人民币计价的铜价将持续受益。

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2025年11月5日电解铜市场日报

一、今日价格概况

二、价格上涨核心驱动因素

三、后续市场展望

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