节点：中游（冶炼、中间品）位置：中游情绪：利空参考度：7/10
2月18日（周三），世界金属统计局（WBMS）公布最新报告，2025年12月全球精炼铜产量为225.06万吨，消费量为215.26万吨，当月供应过剩9.8万吨。该月度数据直观呈现全球精炼铜市场的短期供需关系，为市场主体判断短期价格走势提供参考。
2025年1-12月，全球精炼铜累计产量达2721.23万吨，累计消费量为2682.71万吨，全年供应过剩38.51万吨。全年供需总量反映全球精炼铜市场的整体运行态势，供应端表现相对Ņ..
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