节点：中游（冶炼、中间品）位置：中游情绪：利空参考度：4/10
2025年11月20日中午，上海期货交易所发布金属市场午评，涵盖铜、铝、铅、镍等品目。数据显示基于上期所官方报告，库存和价格变化均来源于交易所内部监测系统。
铜：今日午盘主力合约报每吨83,500元，较昨日上涨1.2%。库存量减少2.1%，至14.5万吨，部分因下游消费需求回暖带动。市场情绪受全球绿色能源投资加速影响，推动价格上行。
铝：主力合约价格报每吨21,800元，微跌0.3%。库存微增至32.7万吨，增幅0.5%，受部分地区复产压力影响。供应端扰动持续，但出口订单放缓抑制了上行空间。
铅：价格稳...
镍：午盘主力合约报每吨162,000元，涨幅0.7%。库存减少1.5%至5.2万吨，受益于电动车电池需求放量。价格受印尼政策调整和库存消化推动，但高波动性风险仍需关注。
整体市场延续昨日趋势，铜镍领涨，铝铅偏弱震荡。需求端支撑铜镍，而铝铅面临供应压力。上期所监测显示，库存变动与价格波动均在可控范围内，后续关注全球经济数据和政策动向。
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