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有色銅板塊走強 銅價有望高位運行
格隆匯 04-08 09:49
格隆匯4月8日丨有色銅板塊走強,金田銅業漲停,江西銅業漲近7%,雲南銅業、銅陵有色漲近6%,西部礦業漲超4%。華泰證券指出,2021年銅精礦或繼續供不應求,宏觀環境對銅價有支撐,銅冶煉費或繼續承壓。商品需求端來看,疫情常態化後海內外需求共振修復將明顯增加銅精礦需求;供給端來看,較高的銅價有望刺激原生銅、再生銅供給增加,但仍受制於16-17年投資較低迷、疫情擾動等的不確定性。預計21年銅精礦供需缺口將較大,銅價有望高位運行。金融屬性來看,通脹壓力持續、美元不會趨勢性上升將對銅價形成支撐。冶煉方面,銅精礦或持續供不應求,持續低迷的冶煉費用或繼續承壓,銅礦自給率更高的銅企更有望受益於銅價上行。

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