News

(1) Jefferies expects that the London Metal Exchange (LME) copper price will rise to $6.50 per pound in 2027 (previously forecasted at $5.50), and reach a peak of $8.00 per pound during 2031-2032 (previously $6.50). (2) The supply side faces multiple pressures: recovery at the Grasberg mine is delayed, Kamoa-Kakula’s recent output is lower and costs are higher, and Chile’s April production hit its weakest performance in 23 years. The institution predicts that by the end of 2030, the copper supply gap will average 491,000 tonnes per year. (3) The increase in copper prices has a significant impact on downstream costs: a 25% rise in copper metal prices will increase manufacturing costs for white goods and electric vehicles by 5%-6%, and will push up data center construction costs by 3%.

Monitoring shows that in the past 23 hours, a whale bought 366.65 WBTC at an average price of $63,500, adding an investment of $23.3 million. Since yesterday, this address has accumulated a position of 525.22 WBTC (about $33.3 million) and 31,100 ETH (about $49.9 million). Currently, the total BTC and ETH holdings exceed $142 million. (Ai Yi)

On June 9, spot silver fell 1.00% during the day, currently reported at $67.47 per ounce. (Jin Shi)