Copper Above $10,000 as Supply Worries Counter Faltering Demand
Copper Above $10,000 as Supply Worries Counter Faltering Demand
(Bloomberg) -- Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric vehicles and power grids countered signs of demand destruction in top user China.
（彭博社）——銅價攀升至每噸1萬美元以上，原因是對全球供應緊張以及電動汽車和電網消費增加的預測抵消了主要用戶中國需求破壞的跡象。
Prices of copper have risen 17% this year on fears of shortages, with aging mines forecast to struggle to keep pace with demand. Supply growth is stagnating, according to ANZ Group Holdings Ltd. analysts including Daniel Hynes. Prices needed to stay around $12,000 a ton to achieve a 10% rate of return for a 300,000-ton mine, they said.
由於擔心短缺，銅價今年上漲了17％，預計老化的礦山將難以跟上需求的步伐。包括丹尼爾·海因斯在內的澳新銀行集團控股有限公司分析師表示，供應增長停滯不前。他們說，要使30萬噸礦山的回報率達到10％，價格需要保持在每噸12,000美元左右。
Still, Chinese fabricators are cutting back on purchases of refined metal in response to the recent rally. Copper wire plants in China were operating at 73% of capacity last month, down 14 percentage points from a year ago, according to a survey from Shanghai Metals Market published this week.
儘管如此，中國製造商仍在削減精煉金屬的購買量，以應對最近的漲勢。上海金屬市場本週發佈的一項調查顯示，中國銅線廠上個月的產能爲73％，比去年同期下降了14個百分點。
Base metals including copper risk a pullback as a recent push higher rests upon investors' fear of missing out on gains, rather than on any change seen yet in underlying market balances, Macquarie Group Ltd. said in a note this week.
麥格理集團有限公司在本週的一份報告中表示，包括銅在內的基本金屬有回調的風險，因爲近期的上漲是由於投資者擔心錯過漲勢，而不是基礎市場餘額的任何變化。
In the meantime, sizable cuts in refined copper output are yet to happen in China, despite pledges by smelters to do so because of tight concentrate supply. Refined production in April was up 1.6% from a year earlier and 2% higher than expected, according to Shanghai Metals Market, citing their surveys, ahead of government data later this month.
與此同時，儘管由於精礦供應緊張，冶煉廠承諾大幅削減精煉銅產量，但中國尚未大幅削減精銅產量。在本月晚些時候公佈政府數據之前，上海金屬市場援引他們的調查顯示，4月份的煉油產量比去年同期增長了1.6％，比預期高出2％。
Copper rose 1.3% to $10,028 a ton on the London Metal Exchange as of 1:44 p.m. in Shanghai on Friday. Most base metals were higher.
截至週五上海下午1點44分，倫敦金屬交易所銅價上漲1.3％，至每噸10,028美元。大多數基本金屬都走高。