{"id":575,"date":"2026-11-02T11:04:48","date_gmt":"2026-11-02T11:04:48","guid":{"rendered":"https:\/\/m4markets.com\/media-vn\/copper-supply-demand-outlook-2026-2030\/"},"modified":"2026-11-02T11:04:48","modified_gmt":"2026-11-02T11:04:48","slug":"copper-supply-demand-outlook-2026-2030","status":"publish","type":"post","link":"https:\/\/m4markets.com\/media-vn\/copper-supply-demand-outlook-2026-2030\/","title":{"rendered":"Tri\u1ec3n v\u1ecdng cung c\u1ea7u \u0111\u1ed3ng 2026\u20132030 [B\u1ea3ng so s\u00e1nh theo t\u1ed5 ch\u1ee9c] \u2014 D\u01b0 cung hay thi\u1ebfu h\u1ee5t c\u01a1 c\u1ea5u?"},"content":{"rendered":"<p>T\u1eeb n\u0103m 2026 \u0111\u1ebfn n\u0103m 2030, th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng kh\u00f3 c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c \u0111\u1ecbnh ngh\u0129a \u0111\u01a1n gi\u1ea3n l\u00e0 &#x27;thi\u1ebfu cung&#x27; hay &#x27;d\u01b0 cung&#x27;. Theo d\u1ef1 b\u00e1o m\u1edbi nh\u1ea5t c\u1ee7a Nh\u00f3m Nghi\u00ean c\u1ee9u \u0110\u1ed3ng Qu\u1ed1c t\u1ebf (ICSG) c\u00f4ng b\u1ed1 v\u00e0o th\u00e1ng 10 n\u0103m 2026, th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng tinh luy\u1ec7n \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o s\u1ebd d\u01b0 cung trong giai \u0111o\u1ea1n 2026\u20132027. Trong khi \u0111\u00f3, S&amp;P Global ph\u00e2n t\u00edch r\u1eb1ng nhu c\u1ea7u c\u00f3 th\u1ec3 t\u0103ng 50% \u0111\u1ebfn n\u0103m 2040, d\u1eabn \u0111\u1ebfn t\u00ecnh tr\u1ea1ng thi\u1ebfu h\u1ee5t cung c\u01a1 c\u1ea5u ng\u00e0y c\u00e0ng tr\u1ea7m tr\u1ecdng. \u0110i\u1ec3m m\u1ea5u ch\u1ed1t c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng hi\u1ec7n nay ch\u00ednh l\u00e0 s\u1ef1 t\u1ed3n t\u1ea1i \u0111\u1ed3ng th\u1eddi c\u1ee7a hai xu h\u01b0\u1edbng n\u00e0y. B\u00e0i vi\u1ebft s\u1ebd ph\u00e2n t\u00edch tri\u1ec3n v\u1ecdng cung c\u1ea7u ng\u1eafn h\u1ea1n, trung h\u1ea1n v\u00e0 d\u00e0i h\u1ea1n theo t\u1eebng t\u1ed5 ch\u1ee9c, \u0111\u1ed3ng th\u1eddi xem x\u00e9t c\u00e1c ph\u01b0\u01a1ng th\u1ee9c \u0111\u1ea7u t\u01b0 v\u00e0o \u0111\u1ed3ng v\u00e0 nh\u1eefng r\u1ee7i ro ch\u00ednh c\u1ea7n l\u01b0u \u00fd.<\/p>\n<h2>T\u00f3m t\u1eaft n\u1ed9i dung ch\u00ednh<\/h2>\n<ul>\n<li>Theo d\u1ef1 b\u00e1o th\u00e1ng 10 n\u0103m 2026 c\u1ee7a ICSG, th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng tinh luy\u1ec7n \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o d\u01b0 cung kho\u1ea3ng 104.000 t\u1ea5n v\u00e0o n\u0103m 2026 v\u00e0 kho\u1ea3ng 368.000 t\u1ea5n v\u00e0o n\u0103m 2027. \u0110\u00e2y l\u00e0 s\u1ef1 \u0111\u1ea3o chi\u1ec1u \u0111\u00e1ng k\u1ec3 so v\u1edbi d\u1ef1 b\u00e1o &#x27;thi\u1ebfu cung&#x27; ch\u1ec9 m\u1ed9t n\u0103m tr\u01b0\u1edbc \u0111\u00f3.<\/li>\n<li>Nguy\u00ean nh\u00e2n ch\u00ednh d\u1eabn \u0111\u1ebfn d\u01b0 cung ng\u1eafn h\u1ea1n bao g\u1ed3m: s\u1ea3n l\u01b0\u1ee3ng \u0111\u1ed3ng tinh luy\u1ec7n th\u1ee9 c\u1ea5p t\u1eeb ph\u1ebf li\u1ec7u t\u0103ng l\u00ean, c\u00e1c nh\u00e0 m\u00e1y luy\u1ec7n kim m\u1edbi t\u1ea1i Indonesia v\u00e0 \u1ea4n \u0110\u1ed9 \u0111i v\u00e0o ho\u1ea1t \u0111\u1ed9ng, c\u00f9ng v\u1edbi s\u1ef1 ch\u00eanh l\u1ec7ch gi\u1eefa nhu c\u1ea7u bi\u1ec3u ki\u1ebfn v\u00e0 ti\u00eau th\u1ee5 th\u1ef1c t\u1ebf c\u1ee7a Trung Qu\u1ed1c.<\/li>\n<li>D\u1ef1 b\u00e1o gi\u00e1 ch\u00ednh th\u1ee9c theo t\u1eebng n\u0103m cho giai \u0111o\u1ea1n trung h\u1ea1n 2028\u20132030 t\u1eeb c\u00e1c t\u1ed5 ch\u1ee9c uy t\u00edn hi\u1ec7n c\u00f2n r\u1ea5t khan hi\u1ebfm. S&amp;P Global d\u1ef1 b\u00e1o s\u1ea3n l\u01b0\u1ee3ng khai th\u00e1c m\u1ecf s\u1ebd \u0111\u1ea1t \u0111\u1ec9nh v\u00e0o kho\u1ea3ng n\u0103m 2030 r\u1ed3i b\u1eaft \u0111\u1ea7u suy gi\u1ea3m, v\u00e0 t\u1eeb th\u1eddi \u0111i\u1ec3m \u0111\u00f3, \u00e1p l\u1ef1c thi\u1ebfu h\u1ee5t cung c\u01a1 c\u1ea5u c\u00f3 th\u1ec3 gia t\u0103ng \u0111\u00e1ng k\u1ec3.<\/li>\n<li>D\u1ef1 b\u00e1o gi\u00e1 c\u1ee7a c\u00e1c t\u1ed5 ch\u1ee9c l\u1edbn nh\u01b0 Goldman Sachs, JPMorgan v\u00e0 BofA \u0111\u01b0\u1ee3c \u0111\u01b0a ra t\u1ea1i c\u00e1c th\u1eddi \u0111i\u1ec3m kh\u00e1c nhau v\u00e0 d\u1ef1a tr\u00ean c\u00e1c \u0111i\u1ec1u ki\u1ec7n k\u1ecbch b\u1ea3n kh\u00e1c nhau, do \u0111\u00f3 c\u1ea7n th\u1eadn tr\u1ecdng khi so s\u00e1nh tr\u1ef1c ti\u1ebfp.<\/li>\n<li>C\u00e1c c\u00f4ng c\u1ee5 \u0111\u1ea7u t\u01b0 v\u00e0o \u0111\u1ed3ng (ETF, h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai, h\u1ee3p \u0111\u1ed3ng ch\u00eanh l\u1ec7ch gi\u00e1 CFD, c\u1ed5 phi\u1ebfu c\u00f4ng ty khai th\u00e1c m\u1ecf) c\u00f3 c\u1ea5u tr\u00fac chi ph\u00ed v\u00e0 m\u1ee9c \u0111\u1ed9 r\u1ee7i ro kh\u00e1c nhau. C\u00e1c s\u1ea3n ph\u1ea9m c\u00f3 \u0111\u00f2n b\u1ea9y ti\u1ec1m \u1ea9n nguy c\u01a1 thua l\u1ed7 to\u00e0n b\u1ed9 v\u1ed1n \u0111\u1ea7u t\u01b0.<\/li>\n<\/ul>\n<h2>T\u1ed5ng quan th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng \u2014 T\u1eeb &#x27;nhi\u1ec7t k\u1ebf kinh t\u1ebf&#x27; \u0111\u1ebfn &#x27;t\u00e0i nguy\u00ean chi\u1ebfn l\u01b0\u1ee3c&#x27;<\/h2>\n<h3>T\u1ea1i sao \u0111\u1ed3ng \u0111\u01b0\u1ee3c xem l\u00e0 ch\u1ec9 b\u00e1o kinh t\u1ebf to\u00e0n c\u1ea7u<\/h3>\n<p>\u0110\u1ed3ng c\u00f3 kh\u1ea3 n\u0103ng d\u1eabn \u0111i\u1ec7n v\u01b0\u1ee3t tr\u1ed9i, \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng trong h\u1ea7u h\u1ebft c\u00e1c ng\u00e0nh c\u00f4ng nghi\u1ec7p nh\u01b0 x\u00e2y d\u1ef1ng, l\u01b0\u1edbi \u0111i\u1ec7n, thi\u1ebft b\u1ecb gia d\u1ee5ng, m\u00e1y m\u00f3c v\u00e0 v\u1eadn t\u1ea3i. Do nhu c\u1ea7u t\u0103ng trong giai \u0111o\u1ea1n kinh t\u1ebf m\u1edf r\u1ed9ng v\u00e0 gi\u1ea3m trong giai \u0111o\u1ea1n suy tho\u00e1i, \u0111\u1ed3ng \u0111\u01b0\u1ee3c m\u1ec7nh danh l\u00e0 &#x27;Ti\u1ebfn s\u0129 \u0110\u1ed3ng&#x27; (Dr. Copper) v\u00e0 t\u1eeb l\u00e2u \u0111\u00e3 \u0111\u00f3ng vai tr\u00f2 l\u00e0 th\u01b0\u1edbc \u0111o s\u1ee9c kh\u1ecfe kinh t\u1ebf to\u00e0n c\u1ea7u. G\u1ea7n \u0111\u00e2y, \u0111\u1ed3ng n\u1ed5i l\u00ean nh\u01b0 m\u1ed9t v\u1eadt li\u1ec7u c\u1ed1t l\u00f5i trong qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i n\u0103ng l\u01b0\u1ee3ng, qua \u0111\u00f3 n\u00e2ng cao v\u1ecb th\u1ebf c\u1ee7a n\u00f3 nh\u01b0 m\u1ed9t t\u00e0i nguy\u00ean chi\u1ebfn l\u01b0\u1ee3c. M\u1ed7i chi\u1ebfc xe \u0111i\u1ec7n (EV) s\u1eed d\u1ee5ng l\u01b0\u1ee3ng \u0111\u1ed3ng nhi\u1ec1u g\u1ea5p kho\u1ea3ng 3\u20134 l\u1ea7n so v\u1edbi xe \u0111\u1ed9ng c\u01a1 \u0111\u1ed1t trong (ICE) (EV kho\u1ea3ng 83 kg so v\u1edbi ICE kho\u1ea3ng 20\u201325 kg). Ngo\u00e0i ra, vi\u1ec7c ph\u00e1t tri\u1ec3n \u0111i\u1ec7n m\u1eb7t tr\u1eddi, \u0111i\u1ec7n gi\u00f3 v\u00e0 x\u00e2y d\u1ef1ng l\u01b0\u1edbi truy\u1ec1n t\u1ea3i \u0111i\u1ec7n cao \u00e1p m\u1ed9t chi\u1ec1u (HVDC) c\u0169ng \u0111\u00f2i h\u1ecfi l\u01b0\u1ee3ng \u0111\u1ed3ng r\u1ea5t l\u1edbn.<\/p>\n<h3>Di\u1ec5n bi\u1ebfn gi\u00e1 \u0111\u1ed3ng n\u0103m 2026<\/h3>\n<p>\u0110\u1ea7u n\u0103m 2026, gi\u00e1 \u0111\u1ed3ng tr\u00ean S\u00e0n Giao d\u1ecbch Kim lo\u1ea1i London (LME) v\u01b0\u1ee3t m\u1ee9c 13.000 USD\/t\u1ea5n, t\u0103ng kho\u1ea3ng 41% so v\u1edbi n\u0103m 2025. \u0110\u00e2y l\u00e0 k\u1ebft qu\u1ea3 c\u1ee7a s\u1ef1 k\u1ebft h\u1ee3p gi\u1eefa k\u1ef3 v\u1ecdng nhu c\u1ea7u t\u1eeb qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i n\u0103ng l\u01b0\u1ee3ng v\u00e0 s\u1ef1 m\u1edf r\u1ed9ng ch\u00eanh l\u1ec7ch gi\u00e1 COMEX\u2013LME do c\u00e1c v\u1ea5n \u0111\u1ec1 thu\u1ebf quan c\u1ee7a M\u1ef9. C\u1ea7n l\u01b0u \u00fd r\u1eb1ng gi\u00e1 LME \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft theo \u0111\u01a1n v\u1ecb USD\/t\u1ea5n, trong khi h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai HG tr\u00ean COMEX c\u1ee7a M\u1ef9 \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft theo \u0111\u01a1n v\u1ecb USD\/pound (lb), do \u0111\u00f3 c\u1ea7n quy \u0111\u1ed5i \u0111\u01a1n v\u1ecb (1 lb \u2248 0,000454 t\u1ea5n) khi so s\u00e1nh tr\u1ef1c ti\u1ebfp gi\u00e1 c\u1ee7a hai th\u1ecb tr\u01b0\u1eddng. Tr\u01b0\u1eddng h\u1ee3p ch\u00eanh l\u1ec7ch gi\u00e1 COMEX\u2013LME t\u1eebng m\u1edf r\u1ed9ng l\u00ean t\u1edbi kho\u1ea3ng 30% do v\u1ea5n \u0111\u1ec1 thu\u1ebf quan c\u1ee7a M\u1ef9 n\u0103m 2026 l\u00e0 minh ch\u1ee9ng r\u00f5 r\u00e0ng cho r\u1ee7i ro khi nh\u1ea7m l\u1eabn \u0111\u01a1n v\u1ecb.<\/p>\n<h2>Tri\u1ec3n v\u1ecdng cung c\u1ea7u ng\u1eafn h\u1ea1n 2026\u20132027 \u2014 D\u01b0 cung hay thi\u1ebfu h\u1ee5t?<\/h2>\n<h3>D\u1ef1 b\u00e1o m\u1edbi nh\u1ea5t c\u1ee7a ICSG (th\u00e1ng 10 n\u0103m 2026): D\u01b0 cung ti\u1ebfp di\u1ec5n<\/h3>\n<p>Theo d\u1ef1 b\u00e1o m\u1edbi nh\u1ea5t \u0111\u01b0\u1ee3c ICSG (Nh\u00f3m Nghi\u00ean c\u1ee9u \u0110\u1ed3ng Qu\u1ed1c t\u1ebf) c\u00f4ng b\u1ed1 v\u00e0o th\u00e1ng 10 n\u0103m 2026, th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng tinh luy\u1ec7n (refined copper) \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o s\u1ebd d\u01b0 cung kho\u1ea3ng 104.000 t\u1ea5n v\u00e0o n\u0103m 2026 v\u00e0 kho\u1ea3ng 368.000 t\u1ea5n v\u00e0o n\u0103m 2027. S\u1ea3n l\u01b0\u1ee3ng khai th\u00e1c \u0111\u1ed3ng (mined copper) \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o t\u0103ng +1,3% v\u00e0o n\u0103m 2026 v\u00e0 +3,1% v\u00e0o n\u0103m 2027, trong khi s\u1ea3n l\u01b0\u1ee3ng \u0111\u1ed3ng tinh luy\u1ec7n d\u1ef1 ki\u1ebfn t\u0103ng +0,4% v\u00e0o n\u0103m 2026 v\u00e0 +3,4% v\u00e0o n\u0103m 2027. \u0110\u00e2y l\u00e0 d\u1ef1 b\u00e1o ng\u1eafn h\u1ea1n ch\u00ednh th\u1ee9c c\u00f3 th\u1ea9m quy\u1ec1n nh\u1ea5t t\u1ea1i th\u1eddi \u0111i\u1ec3m hi\u1ec7n t\u1ea1i, v\u00e0 k\u1ebft lu\u1eadn c\u1ee7a n\u00f3 ho\u00e0n to\u00e0n tr\u00e1i ng\u01b0\u1ee3c v\u1edbi nh\u1eadn \u0111\u1ecbnh &#x27;thi\u1ebfu h\u1ee5t cung \u0111\u1ed3ng&#x27; m\u00e0 nhi\u1ec1u ngu\u1ed3n th\u00f4ng tin \u0111\u01b0a ra m\u1ed9t c\u00e1ch kh\u1eb3ng \u0111\u1ecbnh.<\/p>\n<h3>T\u1ea1i sao d\u1ef1 b\u00e1o \u0111\u1ea3o chi\u1ec1u ch\u1ec9 trong 6 th\u00e1ng \u2014 B\u00e0i h\u1ecdc v\u1ec1 s\u1ef1 b\u1ea5t \u0111\u1ecbnh trong d\u1ef1 b\u00e1o<\/h3>\n<p>V\u00e0o th\u00e1ng 10 n\u0103m 2025, ICSG d\u1ef1 b\u00e1o th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng n\u0103m 2026 s\u1ebd thi\u1ebfu h\u1ee5t kho\u1ea3ng 150.000 t\u1ea5n. Tuy nhi\u00ean, \u0111\u1ebfn b\u00e1o c\u00e1o th\u00e1ng 4 n\u0103m 2026, d\u1ef1 b\u00e1o \u0111\u00e3 \u0111\u1ea3o chi\u1ec1u sang d\u01b0 cung kho\u1ea3ng 96.000 t\u1ea5n, v\u00e0 \u0111\u1ebfn th\u00e1ng 10 n\u0103m 2026, quy m\u00f4 d\u01b0 cung c\u00f2n t\u0103ng th\u00eam. Ch\u1ec9 trong v\u00f2ng 6 th\u00e1ng, \u01b0\u1edbc t\u00ednh c\u00e2n b\u1eb1ng cung c\u1ea7u \u0111\u00e3 thay \u0111\u1ed5i h\u01a1n 246.000 t\u1ea5n. Tr\u01b0\u1eddng h\u1ee3p n\u00e0y cho th\u1ea5y r\u00f5 m\u1ee9c \u0111\u1ed9 b\u1ea5t \u0111\u1ecbnh trong d\u1ef1 b\u00e1o th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng. C\u00e1c bi\u1ebfn s\u1ed1 ng\u1eafn h\u1ea1n nh\u01b0 ch\u00eanh l\u1ec7ch gi\u1eefa nhu c\u1ea7u bi\u1ec3u ki\u1ebfn (apparent demand) v\u00e0 ti\u00eau th\u1ee5 th\u1ef1c t\u1ebf (actual consumption) c\u1ee7a Trung Qu\u1ed1c, vi\u1ec7c C\u1ee5c D\u1ef1 tr\u1eef Chi\u1ebfn l\u01b0\u1ee3c Nh\u00e0 n\u01b0\u1edbc (SRB) c\u00f3 x\u1ea3 h\u00e0ng hay kh\u00f4ng, v\u00e0 bi\u1ebfn \u0111\u1ed9ng ngu\u1ed3n cung ph\u1ebf li\u1ec7u \u0111\u1ec1u c\u00f3 t\u00e1c \u0111\u1ed9ng l\u1edbn \u0111\u1ebfn \u01b0\u1edbc t\u00ednh c\u00e2n b\u1eb1ng cung c\u1ea7u. Do \u0111\u00f3, d\u00f9 l\u00e0 d\u1ef1 b\u00e1o c\u1ee7a t\u1ed5 ch\u1ee9c n\u00e0o, \u0111i\u1ec1u quan tr\u1ecdng l\u00e0 ph\u1ea3i ki\u1ec3m tra th\u1eddi \u0111i\u1ec3m c\u00f4ng b\u1ed1 v\u00e0 c\u00e1c \u0111i\u1ec1u ki\u1ec7n \u0111i k\u00e8m.<\/p>\n<h3>C\u00e1c y\u1ebfu t\u1ed1 t\u1ea1o ra d\u01b0 cung ng\u1eafn h\u1ea1n<\/h3>\n<p>M\u1ed9t trong nh\u1eefng nguy\u00ean nh\u00e2n ch\u00ednh d\u1eabn \u0111\u1ebfn d\u01b0 cung trong giai \u0111o\u1ea1n 2026\u20132027 l\u00e0 s\u1ef1 gia t\u0103ng s\u1ea3n l\u01b0\u1ee3ng \u0111\u1ed3ng tinh luy\u1ec7n th\u1ee9 c\u1ea5p (secondary refined copper) t\u1eeb ph\u1ebf li\u1ec7u \u0111\u1ed3ng. Theo d\u1ef1 b\u00e1o c\u1ee7a ICSG, s\u1ea3n l\u01b0\u1ee3ng \u0111\u1ed3ng tinh luy\u1ec7n th\u1ee9 c\u1ea5p n\u0103m 2027 d\u1ef1 ki\u1ebfn t\u0103ng kho\u1ea3ng 4,7\u20135,7%, g\u00f3p ph\u1ea7n n\u1edbi l\u1ecfng c\u00e2n b\u1eb1ng th\u1ecb tr\u01b0\u1eddng. B\u00ean c\u1ea1nh \u0111\u00f3, vi\u1ec7c c\u00e1c nh\u00e0 m\u00e1y luy\u1ec7n kim m\u1edbi t\u1ea1i Indonesia v\u00e0 \u1ea4n \u0110\u1ed9 \u0111i v\u00e0o ho\u1ea1t \u0111\u1ed9ng c\u0169ng \u0111ang l\u00e0m t\u0103ng ngu\u1ed3n cung \u0111\u1ed3ng tinh luy\u1ec7n. M\u1eb7c d\u00f9 ph\u00ed x\u1eed l\u00fd v\u00e0 tinh luy\u1ec7n (TC\/RC: treatment charge\/refining charge) v\u1eabn duy tr\u00ec \u1edf m\u1ee9c \u00e2m, g\u00e2y \u00e1p l\u1ef1c l\u00ean l\u1ee3i nhu\u1eadn c\u1ee7a ng\u00e0nh luy\u1ec7n kim, nh\u01b0ng vi\u1ec7c \u0111\u01b0a c\u00e1c c\u01a1 s\u1edf m\u1edbi v\u00e0o v\u1eadn h\u00e0nh l\u1ea1i c\u00f3 t\u00e1c \u0111\u1ed9ng l\u00e0m t\u0103ng ngu\u1ed3n cung trong ng\u1eafn h\u1ea1n.<\/p>\n<h3>T\u1ea1i sao gi\u00e1 v\u1eabn cao d\u00f9 th\u1ecb tr\u01b0\u1eddng d\u01b0 cung ng\u1eafn h\u1ea1n<\/h3>\n<p>C\u00f3 nhi\u1ec1u l\u00fd do khi\u1ebfn gi\u00e1 LME v\u1eabn duy tr\u00ec \u1edf m\u1ee9c cao d\u00f9 th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng tinh luy\u1ec7n \u0111ang d\u01b0 cung. Th\u1ee9 nh\u1ea5t, ngu\u1ed3n cung qu\u1eb7ng \u0111\u1ed3ng tinh (copper concentrate) \u2014 nguy\u00ean li\u1ec7u \u0111\u1ea7u v\u00e0o c\u1ee7a \u0111\u1ed3ng tinh luy\u1ec7n \u2014 v\u1eabn c\u00f2n kh\u00e1 eo h\u1eb9p. Th\u1ee9 hai, ch\u00ednh s\u00e1ch thu\u1ebf quan c\u1ee7a M\u1ef9 \u0111\u00e3 m\u1edf r\u1ed9ng ch\u00eanh l\u1ec7ch gi\u00e1 gi\u1eefa COMEX v\u00e0 LME, g\u00e2y ra s\u1ef1 m\u00e9o m\u00f3 tr\u00ean th\u1ecb tr\u01b0\u1eddng. Th\u1ee9 ba, k\u1ef3 v\u1ecdng d\u00e0i h\u1ea1n c\u1ee7a c\u00e1c th\u00e0nh vi\u00ean th\u1ecb tr\u01b0\u1eddng v\u1ec1 t\u00ecnh tr\u1ea1ng thi\u1ebfu h\u1ee5t cung c\u01a1 c\u1ea5u sau n\u0103m 2028 \u0111ang \u0111\u01b0\u1ee3c ph\u1ea3n \u00e1nh tr\u01b0\u1edbc v\u00e0o gi\u00e1 hi\u1ec7n t\u1ea1i. N\u00f3i c\u00e1ch kh\u00e1c, c\u00e2n b\u1eb1ng cung c\u1ea7u ng\u1eafn h\u1ea1n v\u00e0 gi\u00e1 giao ngay kh\u00f4ng ph\u1ea3i l\u00fac n\u00e0o c\u0169ng \u0111\u1ed3ng nh\u1ea5t \u2014 gi\u00e1 c\u00f2n ph\u1ea3n \u1ee9ng nh\u1ea1y c\u1ea3m v\u1edbi k\u1ef3 v\u1ecdng t\u01b0\u01a1ng lai v\u00e0 c\u00e1c bi\u1ebfn s\u1ed1 v\u0129 m\u00f4.<\/p>\n<p>Ch\u1ec9 ri\u00eang c\u00e2n b\u1eb1ng cung c\u1ea7u c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng tinh luy\u1ec7n kh\u00f4ng \u0111\u1ee7 \u0111\u1ec3 gi\u1ea3i th\u00edch to\u00e0n b\u1ed9 di\u1ec5n bi\u1ebfn gi\u00e1 \u0111\u1ed3ng th\u1ef1c t\u1ebf. T\u00e1c \u0111\u1ed9ng c\u1ee7a ch\u00ednh s\u00e1ch thu\u1ebf quan M\u1ef9, ch\u00eanh l\u1ec7ch gi\u00e1 gi\u1eefa c\u00e1c s\u00e0n giao d\u1ecbch v\u00e0 \u1ea3nh h\u01b0\u1edfng c\u1ee7a xu h\u01b0\u1edbng kinh t\u1ebf to\u00e0n c\u1ea7u \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng h\u00e0ng h\u00f3a c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c hi\u1ec3u s\u00e2u h\u01a1n th\u00f4ng qua ph\u00e2n t\u00edch tri\u1ec3n v\u1ecdng th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng v\u00e0 c\u00e1c y\u1ebfu t\u1ed1 bi\u1ebfn \u0111\u1ed9ng gi\u00e1 ch\u00ednh.<\/p>\n<h2>Tri\u1ec3n v\u1ecdng trung h\u1ea1n 2028\u20132030 \u2014 \u0110i\u1ec3m chuy\u1ec3n \u0111\u1ed5i c\u01a1 c\u1ea5u<\/h2>\n<h3>\u0110\u1ec9nh s\u1ea3n l\u01b0\u1ee3ng khai th\u00e1c m\u1ecf v\u00e0 giai \u0111o\u1ea1n sau \u0111\u00f3<\/h3>\n<p>Theo nghi\u00ean c\u1ee9u do S&amp;P Global c\u00f4ng b\u1ed1 v\u00e0o th\u00e1ng 1 n\u0103m 2026, s\u1ea3n l\u01b0\u1ee3ng khai th\u00e1c \u0111\u1ed3ng to\u00e0n c\u1ea7u c\u00f3 th\u1ec3 \u0111\u1ea1t \u0111\u1ec9nh v\u00e0o kho\u1ea3ng n\u0103m 2030 r\u1ed3i b\u1eaft \u0111\u1ea7u suy gi\u1ea3m. Sau th\u1eddi \u0111i\u1ec3m \u0111\u00f3, s\u1ef1 s\u1ee5t gi\u1ea3m s\u1ea3n l\u01b0\u1ee3ng t\u1eeb c\u00e1c m\u1ecf hi\u1ec7n h\u1eefu k\u1ebft h\u1ee3p v\u1edbi t\u00ecnh tr\u1ea1ng thi\u1ebfu h\u1ee5t ph\u00e1t tri\u1ec3n m\u1ecf m\u1edbi c\u00f3 th\u1ec3 l\u00e0m gia t\u0103ng \u00e1p l\u1ef1c t\u1eeb ph\u00eda cung. Tuy nhi\u00ean, d\u1ef1 b\u00e1o gi\u00e1 ch\u00ednh th\u1ee9c theo t\u1eebng n\u0103m cho giai \u0111o\u1ea1n 2028\u20132030 t\u1eeb c\u00e1c t\u1ed5 ch\u1ee9c \u0111\u00e1ng tin c\u1eady hi\u1ec7n v\u1eabn c\u00f2n r\u1ea5t khan hi\u1ebfm. H\u01b0\u1edbng \u0111i c\u1ee7a th\u1ecb tr\u01b0\u1eddng trong giai \u0111o\u1ea1n n\u00e0y ph\u1ee5 thu\u1ed9c v\u00e0o nhi\u1ec1u \u0111i\u1ec1u ki\u1ec7n nh\u01b0 t\u1ed1c \u0111\u1ed9 t\u0103ng t\u1ed1c c\u1ee7a nhu c\u1ea7u chuy\u1ec3n \u0111\u1ed5i n\u0103ng l\u01b0\u1ee3ng, kh\u1ea3 n\u0103ng ph\u1ee5c h\u1ed3i kinh t\u1ebf c\u1ee7a Trung Qu\u1ed1c v\u00e0 ti\u1ebfn \u0111\u1ed9 ph\u00e1t tri\u1ec3n c\u00e1c m\u1ecf m\u1edbi \u2014 \u0111\u00e2y l\u00e0 l\u0129nh v\u1ef1c mang t\u00ednh k\u1ecbch b\u1ea3n v\u1edbi nhi\u1ec1u bi\u1ebfn s\u1ed1.<\/p>\n<h3>Nhu c\u1ea7u t\u0103ng t\u1ed1c t\u1eeb qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i n\u0103ng l\u01b0\u1ee3ng<\/h3>\n<p>Nhu c\u1ea7u t\u1eeb qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i n\u0103ng l\u01b0\u1ee3ng l\u00e0 bi\u1ebfn s\u1ed1 c\u1ed1t l\u00f5i c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng giai \u0111o\u1ea1n 2028\u20132030. Vi\u1ec7c m\u1edf r\u1ed9ng c\u00f4ng su\u1ea5t \u0111i\u1ec7n m\u1eb7t tr\u1eddi v\u00e0 \u0111i\u1ec7n gi\u00f3, \u0111\u1ea9y nhanh ph\u1ed5 c\u1eadp xe \u0111i\u1ec7n (EV) v\u00e0 x\u00e2y d\u1ef1ng l\u01b0\u1edbi truy\u1ec1n t\u1ea3i \u0111i\u1ec7n cao \u00e1p m\u1ed9t chi\u1ec1u (HVDC) \u0111\u1ec1u c\u00f3 t\u00e1c \u0111\u1ed9ng l\u00e0m t\u0103ng nhu c\u1ea7u \u0111\u1ed3ng. S&amp;P Global d\u1ef1 b\u00e1o nhu c\u1ea7u \u0111\u1ed3ng c\u00f3 th\u1ec3 t\u0103ng kho\u1ea3ng 50% \u0111\u1ebfn n\u0103m 2040, \u0111\u1ea1t 42 tri\u1ec7u t\u1ea5n, v\u00e0 t\u00ecnh tr\u1ea1ng thi\u1ebfu h\u1ee5t cung c\u00f3 th\u1ec3 l\u00ean t\u1edbi 10 tri\u1ec7u t\u1ea5n. D\u1ef1 b\u00e1o d\u00e0i h\u1ea1n n\u00e0y h\u1eefu \u00edch \u0111\u1ec3 hi\u1ec3u b\u1ed1i c\u1ea3nh c\u01a1 c\u1ea5u sau n\u0103m 2030, nh\u01b0ng kh\u00f4ng n\u00ean \u0111\u01b0\u1ee3c di\u1ec5n gi\u1ea3i nh\u01b0 m\u1ee5c ti\u00eau gi\u00e1 theo t\u1eebng n\u0103m cho giai \u0111o\u1ea1n 2028\u20132030. Nhu c\u1ea7u truy\u1ec1n th\u1ed1ng (x\u00e2y d\u1ef1ng, m\u00e1y m\u00f3c, thi\u1ebft b\u1ecb gia d\u1ee5ng, s\u1ea3n xu\u1ea5t \u0111i\u1ec7n) c\u0169ng \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o ti\u1ebfp t\u1ee5c t\u0103ng tr\u01b0\u1edfng kho\u1ea3ng 2%\/n\u0103m, h\u1ed7 tr\u1ee3 n\u1ec1n t\u1ea3ng nhu c\u1ea7u c\u01a1 b\u1ea3n.<\/p>\n<figure class=\"wp-block-image size-full\"><img src=\"https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122524-vi.webp\" alt=\"S\u01a1 \u0111\u1ed3 c\u00e1c y\u1ebfu t\u1ed1 th\u00fac \u0111\u1ea9y t\u0103ng tr\u01b0\u1edfng nhu c\u1ea7u \u0111\u1ed3ng: xe \u0111i\u1ec7n, n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o, trung t\u00e2m d\u1eef li\u1ec7u v\u00e0 l\u01b0\u1edbi \u0111i\u1ec7n HVDC \u0111\u1ebfn n\u0103m 2040\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-573\" srcset=\"https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122524-vi-150x150.webp 150w, https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122524-vi-300x200.webp 300w, https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122524-vi-768x511.webp 768w, https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122524-vi-1024x682.webp 1024w, https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122524-vi.webp 1537w\" sizes=\"auto, (max-width: 1537px) 100vw, 1537px\" width=\"1537\" height=\"1023\" \/><\/figure>\n<h3>V\u00e9c-t\u01a1 nhu c\u1ea7u m\u1edbi t\u1eeb AI v\u00e0 trung t\u00e2m d\u1eef li\u1ec7u<\/h3>\n<p>Nhu c\u1ea7u \u0111\u1ed3ng t\u1eeb c\u00e1c trung t\u00e2m d\u1eef li\u1ec7u ph\u1ee5c v\u1ee5 m\u1edf r\u1ed9ng h\u1ea1 t\u1ea7ng AI \u0111ang n\u1ed5i l\u00ean nh\u01b0 m\u1ed9t \u0111\u1ed9ng l\u1ef1c nhu c\u1ea7u m\u1edbi \u0111\u00e1ng ch\u00fa \u00fd. M\u1ed7i c\u01a1 s\u1edf trung t\u00e2m d\u1eef li\u1ec7u quy m\u00f4 l\u1edbn (hyperscale) c\u00f3 th\u1ec3 ti\u00eau th\u1ee5 t\u1edbi 40.000\u201350.000 t\u1ea5n \u0111\u1ed3ng, trong khi nhu c\u1ea7u \u0111i\u1ec7n n\u0103ng c\u1ee7a c\u00e1c trung t\u00e2m d\u1eef li\u1ec7u \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o t\u0103ng t\u1eeb kho\u1ea3ng 100 GW n\u0103m 2022 l\u00ean kho\u1ea3ng 550 GW v\u00e0o n\u0103m 2040. B\u00e1o c\u00e1o th\u00e1ng 1\/2026 c\u1ee7a S&amp;P Global c\u0169ng x\u00e1c \u0111\u1ecbnh nhu c\u1ea7u t\u1eeb l\u0129nh v\u1ef1c qu\u1ed1c ph\u00f2ng (t\u00ean l\u1eeda, m\u00e1y bay kh\u00f4ng ng\u01b0\u1eddi l\u00e1i, thi\u1ebft b\u1ecb t\u00e1c chi\u1ebfn \u0111i\u1ec7n t\u1eed, v.v.) l\u00e0 m\u1ed9t v\u00e9c-t\u01a1 nhu c\u1ea7u m\u1edbi. S\u1ef1 \u0111a d\u1ea1ng h\u00f3a nhu c\u1ea7u n\u00e0y g\u00f3p ph\u1ea7n l\u00e0m t\u0103ng t\u00ednh kh\u00f4ng co gi\u00e3n c\u1ee7a nhu c\u1ea7u \u0111\u1ed3ng (inelastic demand).<\/p>\n<h3>Th\u1ef1c tr\u1ea1ng ngu\u1ed3n cung \u2014 T\u1ea1i sao c\u00e1c m\u1ecf m\u1edbi l\u1ea1i khan hi\u1ebfm?<\/h3>\n<p>Vi\u1ec7c ph\u00e1t tri\u1ec3n m\u1ed9t m\u1ecf \u0111\u1ed3ng t\u1eeb giai \u0111o\u1ea1n ph\u00e1t hi\u1ec7n \u0111\u1ebfn khi \u0111\u01b0a v\u00e0o s\u1ea3n xu\u1ea5t m\u1ea5t trung b\u00ecnh kho\u1ea3ng 17 n\u0103m. \u0110i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 c\u00e1c m\u1ecf m\u1edbi c\u00f3 th\u1ec3 b\u1eaft \u0111\u1ea7u s\u1ea3n xu\u1ea5t tr\u01b0\u1edbc n\u0103m 2030 ph\u1ea3i \u0111\u00e3 b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n ph\u00e1t tri\u1ec3n t\u1eeb tr\u01b0\u1edbc. M\u1ed1i lo ng\u1ea1i chung c\u1ee7a ng\u00e0nh l\u00e0 c\u00e1c d\u1ef1 \u00e1n hi\u1ec7n c\u00f3 trong danh m\u1ee5c ph\u00e1t tri\u1ec3n s\u1ebd kh\u00f4ng \u0111\u1ee7 \u0111\u1ec3 \u0111\u00e1p \u1ee9ng nhu c\u1ea7u ng\u00e0y c\u00e0ng t\u0103ng t\u1eeb qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i n\u0103ng l\u01b0\u1ee3ng. N\u1ebfu m\u1ee9c gi\u00e1 khuy\u1ebfn kh\u00edch (incentive price) kh\u00f4ng \u0111\u01b0\u1ee3c duy tr\u00ec \u0111\u1ee7 cao \u0111\u1ec3 thu h\u00fat \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c m\u1ecf m\u1edbi, ti\u1ebfn \u0111\u1ed9 \u0111\u1ea7u t\u01b0 ngu\u1ed3n cung c\u00f3 th\u1ec3 b\u1ecb tr\u00ec ho\u00e3n, t\u1eeb \u0111\u00f3 l\u00e0m tr\u1ea7m tr\u1ecdng th\u00eam t\u00ecnh tr\u1ea1ng thi\u1ebfu h\u1ee5t ngu\u1ed3n cung mang t\u00ednh c\u01a1 c\u1ea5u sau n\u0103m 2030.<\/p>\n<p>S\u1ea3n l\u01b0\u1ee3ng \u0111\u1ed3ng tinh luy\u1ec7n v\u00e0 ph\u00e1t tri\u1ec3n m\u1ecf m\u1edbi di\u1ec5n ra theo hai d\u00f2ng th\u1eddi gian kh\u00e1c nhau, v\u00ec v\u1eady khi \u0111\u00e1nh gi\u00e1 tri\u1ec3n v\u1ecdng ngu\u1ed3n cung d\u00e0i h\u1ea1n, c\u1ea7n theo d\u00f5i ti\u1ebfn \u0111\u1ed9 c\u1ee7a c\u00e1c d\u1ef1 \u00e1n m\u1ecf l\u1edbn. Qu\u00e1 tr\u00ecnh t\u1eeb th\u0103m d\u00f2 \u0111\u1ebfn khi b\u1eaft \u0111\u1ea7u s\u1ea3n xu\u1ea5t c\u0169ng nh\u01b0 nh\u1eefng h\u1ea1n ch\u1ebf mang t\u00ednh c\u01a1 c\u1ea5u c\u1ee7a ngu\u1ed3n cung t\u1eeb khai th\u00e1c m\u1ecf \u0111\u01b0\u1ee3c ph\u00e2n t\u00edch chi ti\u1ebft trong b\u00e0i vi\u1ebft v\u1ec1 tri\u1ec3n v\u1ecdng khai th\u00e1c \u0111\u1ed3ng giai \u0111o\u1ea1n 2026\u20132030 v\u00e0 c\u00e1c bi\u1ebfn s\u1ed1 s\u1ea3n xu\u1ea5t ch\u1ee7 y\u1ebfu.<\/p>\n<h2>R\u1ee7i ro ch\u00ednh v\u1ec1 ph\u00eda ngu\u1ed3n cung \u2014 Chile, Peru, DRC v\u00e0 Indonesia<\/h2>\n<h3>\u00dd ngh\u0129a c\u01a1 c\u1ea5u c\u1ee7a s\u1ef1 suy gi\u1ea3m h\u00e0m l\u01b0\u1ee3ng qu\u1eb7ng<\/h3>\n<p>S\u1ef1 suy gi\u1ea3m h\u00e0m l\u01b0\u1ee3ng qu\u1eb7ng (ore grade decline) l\u00e0 y\u1ebfu t\u1ed1 quan tr\u1ecdng nh\u1ea5t trong s\u1ed1 c\u00e1c r\u00e0ng bu\u1ed9c c\u01a1 c\u1ea5u \u0111\u1ed1i v\u1edbi ngu\u1ed3n cung \u0111\u1ed3ng. T\u1ea1i Chile, h\u00e0m l\u01b0\u1ee3ng qu\u1eb7ng trung b\u00ecnh \u0111\u00e3 gi\u1ea3m t\u1eeb kho\u1ea3ng 1,2% xu\u1ed1ng c\u00f2n 0,7% trong v\u00f2ng 20 n\u0103m qua. Khi h\u00e0m l\u01b0\u1ee3ng qu\u1eb7ng gi\u1ea3m, c\u1ea7n x\u1eed l\u00fd nhi\u1ec1u qu\u1eb7ng h\u01a1n \u0111\u1ec3 s\u1ea3n xu\u1ea5t ra c\u00f9ng m\u1ed9t l\u01b0\u1ee3ng \u0111\u1ed3ng, khi\u1ebfn chi ph\u00ed s\u1ea3n xu\u1ea5t t\u0103ng l\u00ean v\u00e0 m\u1ee9c ti\u00eau th\u1ee5 n\u0103ng l\u01b0\u1ee3ng c\u0169ng t\u0103ng theo. \u0110\u00e2y kh\u00f4ng \u0111\u01a1n thu\u1ea7n l\u00e0 v\u1ea5n \u0111\u1ec1 s\u1ed1 l\u01b0\u1ee3ng m\u1ecf gi\u1ea3m \u0111i, m\u00e0 l\u00e0 v\u1ea5n \u0111\u1ec1 c\u01a1 c\u1ea5u khi n\u0103ng l\u1ef1c s\u1ea3n xu\u1ea5t th\u1ef1c t\u1ebf c\u1ee7a c\u00e1c m\u1ecf hi\u1ec7n h\u1eefu suy gi\u1ea3m d\u1ea7n theo th\u1eddi gian.<\/p>\n<h3>T\u00ecnh tr\u1ea1ng gi\u00e1n \u0111o\u1ea1n s\u1ea3n xu\u1ea5t t\u1ea1i c\u00e1c m\u1ecf l\u1edbn<\/h3>\n<p>Chile chi\u1ebfm kho\u1ea3ng 25% ngu\u1ed3n cung \u0111\u1ed3ng to\u00e0n c\u1ea7u, v\u1edbi doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc Codelco l\u00e0 nh\u00e0 s\u1ea3n xu\u1ea5t c\u1ed1t l\u00f5i. Peru \u0111\u00f3ng g\u00f3p kho\u1ea3ng 15%. M\u1ecf Grasberg t\u1ea1i Indonesia v\u00e0 m\u1ecf Kamoa-Kakula t\u1ea1i C\u1ed9ng h\u00f2a D\u00e2n ch\u1ee7 Congo (DRC) c\u0169ng chi\u1ebfm t\u1ef7 tr\u1ecdng \u0111\u00e1ng k\u1ec3 trong ngu\u1ed3n cung to\u00e0n c\u1ea7u. M\u1ecf Escondida t\u1ea1i Chile l\u00e0 m\u1ecf \u0111\u1ed3ng \u0111\u01a1n l\u1ebb l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi, v\u00e0 b\u1ea5t k\u1ef3 s\u1ef1 gi\u00e1n \u0111o\u1ea1n s\u1ea3n xu\u1ea5t n\u00e0o t\u1ea1i \u0111\u00e2y \u0111\u1ec1u c\u00f3 t\u00e1c \u0111\u1ed9ng t\u1ee9c th\u00ec \u0111\u1ebfn c\u00e2n b\u1eb1ng cung c\u1ea7u to\u00e0n c\u1ea7u. R\u1ee7i ro \u0111\u1ecba ch\u00ednh tr\u1ecb, tranh ch\u1ea5p lao \u0111\u1ed9ng, v\u1ea5n \u0111\u1ec1 ngu\u1ed3n n\u01b0\u1edbc v\u00e0 thay \u0111\u1ed5i ch\u00ednh s\u00e1ch c\u1ee7a ch\u00ednh ph\u1ee7 l\u00e0 nh\u1eefng y\u1ebfu t\u1ed1 \u0111e d\u1ecda s\u1ef1 \u1ed5n \u0111\u1ecbnh ngu\u1ed3n cung t\u1ea1i c\u00e1c qu\u1ed1c gia s\u1ea3n xu\u1ea5t ch\u00ednh.<\/p>\n<h3>Th\u1eddi gian ph\u00e1t tri\u1ec3n m\u1ecf trung b\u00ecnh 17 n\u0103m \u2014 Ngu\u1ed3n cung n\u0103m 2030 \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u1ecbnh \u0111o\u1ea1t<\/h3>\n<p>Th\u1ef1c t\u1ebf th\u1eddi gian tri\u1ec3n khai trung b\u00ecnh \u0111\u1ec3 ph\u00e1t tri\u1ec3n m\u1ed9t m\u1ecf l\u00e0 kho\u1ea3ng 17 n\u0103m mang nhi\u1ec1u h\u00e0m \u00fd quan tr\u1ecdng. C\u00e1c m\u1ecf c\u00f3 th\u1ec3 \u0111i v\u00e0o s\u1ea3n xu\u1ea5t tr\u01b0\u1edbc n\u0103m 2030 \u0111\u1ec1u l\u00e0 nh\u1eefng d\u1ef1 \u00e1n \u0111\u00e3 b\u1eaft \u0111\u1ea7u th\u0103m d\u00f2 v\u00e0 ph\u00e1t tri\u1ec3n t\u1eeb tr\u01b0\u1edbc n\u0103m 2013. D\u00f9 gi\u00e1 \u0111\u1ed3ng cao hi\u1ec7n nay c\u00f3 th\u1ec3 thu h\u00fat \u0111\u1ea7u t\u01b0 m\u1edbi, t\u00e1c \u0111\u1ed9ng c\u1ee7a nh\u1eefng kho\u1ea3n \u0111\u1ea7u t\u01b0 \u0111\u00f3 s\u1ebd ch\u1ec9 hi\u1ec7n h\u1eefu sau n\u0103m 2035. \u0110i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 ngu\u1ed3n cung trong giai \u0111o\u1ea1n 2028\u20132030 \u0111\u00e3 ph\u1ea7n l\u1edbn \u0111\u01b0\u1ee3c \u0111\u1ecbnh h\u00ecnh, v\u00e0 n\u1ebfu nhu c\u1ea7u t\u0103ng nhanh h\u01a1n d\u1ef1 b\u00e1o, th\u1eddi \u0111i\u1ec3m chuy\u1ec3n sang tr\u1ea1ng th\u00e1i thi\u1ebfu h\u1ee5t ngu\u1ed3n cung c\u00f3 th\u1ec3 \u0111\u1ebfn s\u1edbm h\u01a1n.<\/p>\n<h2>So s\u00e1nh d\u1ef1 b\u00e1o gi\u00e1 \u0111\u1ed3ng c\u1ee7a c\u00e1c t\u1ed5 ch\u1ee9c l\u1edbn (2026\u20132030)<\/h2>\n<p>B\u1ea3ng d\u01b0\u1edbi \u0111\u00e2y so s\u00e1nh c\u00e1c d\u1ef1 b\u00e1o gi\u00e1 \u0111\u1ed3ng \u0111\u01b0\u1ee3c c\u00f4ng b\u1ed1 b\u1edfi t\u1eebng t\u1ed5 ch\u1ee9c. Do m\u1ed7i d\u1ef1 b\u00e1o c\u00f3 th\u1eddi \u0111i\u1ec3m c\u00f4ng b\u1ed1, \u0111i\u1ec1u ki\u1ec7n k\u1ecbch b\u1ea3n v\u00e0 giai \u0111o\u1ea1n d\u1ef1 b\u00e1o kh\u00e1c nhau, kh\u00f4ng n\u00ean di\u1ec5n gi\u1ea3i ch\u00fang nh\u01b0 m\u1ed9t ph\u00e9p c\u1ed9ng \u0111\u01a1n gi\u1ea3n hay m\u1ed9t &quot;\u0111\u1ed3ng thu\u1eadn&quot; chung. T\u1ea5t c\u1ea3 c\u00e1c m\u1ee9c gi\u00e1 \u0111\u1ec1u t\u00ednh theo USD\/t\u1ea5n theo chu\u1ea9n LME.<\/p>\n<p>Hi\u1ec7n ch\u01b0a c\u00f3 d\u1eef li\u1ec7u d\u1ef1 b\u00e1o gi\u00e1 ch\u00ednh th\u1ee9c theo t\u1eebng n\u0103m t\u1eeb c\u00e1c t\u1ed5 ch\u1ee9c \u0111\u00e1ng tin c\u1eady cho giai \u0111o\u1ea1n 2028\u20132030. \u0110\u00e2y l\u00e0 giai \u0111o\u1ea1n m\u00e0 k\u1ebft qu\u1ea3 c\u00f3 th\u1ec3 bi\u1ebfn \u0111\u1ed9ng l\u1edbn t\u00f9y theo k\u1ecbch b\u1ea3n cung c\u1ea7u, v\u00e0 vi\u1ec7c \u0111\u01b0a ra m\u1ed9t m\u1ee5c ti\u00eau gi\u00e1 c\u1ee5 th\u1ec3 s\u1ebd thi\u1ebfu c\u01a1 s\u1edf v\u1eefng ch\u1eafc.<\/p>\n<h2>K\u1ecbch b\u1ea3n t\u0103ng gi\u00e1 v\u00e0 k\u1ecbch b\u1ea3n gi\u1ea3m gi\u00e1<\/h2>\n<p>C\u00e1c k\u1ecbch b\u1ea3n d\u01b0\u1edbi \u0111\u00e2y l\u00e0 ph\u00e2n t\u00edch c\u00f3 \u0111i\u1ec1u ki\u1ec7n ph\u1ee5c v\u1ee5 m\u1ee5c \u0111\u00edch gi\u00e1o d\u1ee5c, kh\u00f4ng ph\u1ea3i d\u1ef1 b\u00e1o gi\u00e1 c\u1ee7a b\u1ea5t k\u1ef3 t\u1ed5 ch\u1ee9c c\u1ee5 th\u1ec3 n\u00e0o. K\u1ebft qu\u1ea3 th\u1ef1c t\u1ebf tr\u00ean th\u1ecb tr\u01b0\u1eddng s\u1ebd ph\u1ee5 thu\u1ed9c v\u00e0o nhi\u1ec1u bi\u1ebfn s\u1ed1 ph\u1ee9c h\u1ee3p.<\/p>\n<h3>K\u1ecbch b\u1ea3n t\u0103ng gi\u00e1 \u2014 \u0110i\u1ec1u ki\u1ec7n n\u00e0o c\u00f3 th\u1ec3 khi\u1ebfn gi\u00e1 t\u0103ng m\u1ea1nh?<\/h3>\n<ul>\n<li>\u0110\u1ea7u t\u01b0 chuy\u1ec3n \u0111\u1ed5i n\u0103ng l\u01b0\u1ee3ng m\u1edf r\u1ed9ng nhanh h\u01a1n d\u1ef1 ki\u1ebfn, khi\u1ebfn nhu c\u1ea7u \u0111\u1ed3ng t\u1eeb xe \u0111i\u1ec7n v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o t\u0103ng v\u1ecdt<\/li>\n<li>X\u1ea3y ra gi\u00e1n \u0111o\u1ea1n s\u1ea3n xu\u1ea5t quy m\u00f4 l\u1edbn t\u1ea1i c\u00e1c qu\u1ed1c gia s\u1ea3n xu\u1ea5t ch\u00ednh nh\u01b0 Chile v\u00e0 Peru (\u0111\u00ecnh c\u00f4ng, thi\u00ean tai, thay \u0111\u1ed5i ch\u00ednh s\u00e1ch)<\/li>\n<li>C\u00e1c g\u00f3i k\u00edch th\u00edch kinh t\u1ebf c\u1ee7a Trung Qu\u1ed1c ph\u00e1t huy hi\u1ec7u qu\u1ea3, gi\u00fap nhu c\u1ea7u t\u1eeb ng\u00e0nh x\u00e2y d\u1ef1ng v\u00e0 s\u1ea3n xu\u1ea5t ph\u1ee5c h\u1ed3i<\/li>\n<li>\u0110\u1ed3ng USD ti\u1ebfp t\u1ee5c suy y\u1ebfu, t\u1ea1o \u00e1p l\u1ef1c t\u0103ng gi\u00e1 \u0111\u1ed1i v\u1edbi c\u00e1c h\u00e0ng h\u00f3a \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 b\u1eb1ng USD<\/li>\n<li>Ti\u1ebfn \u0111\u1ed9 ph\u00e1t tri\u1ec3n m\u1ecf m\u1edbi b\u1ecb tr\u00ec ho\u00e3n nghi\u00eam tr\u1ecdng, khi\u1ebfn t\u00ecnh tr\u1ea1ng thi\u1ebfu h\u1ee5t ngu\u1ed3n cung sau n\u0103m 2028 tr\u1edf th\u00e0nh hi\u1ec7n th\u1ef1c s\u1edbm h\u01a1n d\u1ef1 b\u00e1o<\/li>\n<\/ul>\n<h3>K\u1ecbch b\u1ea3n gi\u1ea3m gi\u00e1 \u2014 \u0110i\u1ec1u ki\u1ec7n n\u00e0o c\u00f3 th\u1ec3 khi\u1ebfn gi\u00e1 gi\u1ea3m?<\/h3>\n<ul>\n<li>Kinh t\u1ebf Trung Qu\u1ed1c t\u0103ng tr\u01b0\u1edfng ch\u1eadm l\u1ea1i ho\u1eb7c th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n ti\u1ebfp t\u1ee5c suy tho\u00e1i k\u00e9o d\u00e0i, khi\u1ebfn nhu c\u1ea7u \u0111\u1ed3ng gi\u1ea3m h\u01a1n 3% (tham chi\u1ebfu \u0111i\u1ec1u ki\u1ec7n c\u1ee7a BofA)<\/li>\n<li>Ngu\u1ed3n cung t\u1eeb t\u00e1i ch\u1ebf v\u00e0 tinh luy\u1ec7n th\u1ee9 c\u1ea5p t\u0103ng m\u1ea1nh h\u01a1n d\u1ef1 ki\u1ebfn, l\u00e0m tr\u1ea7m tr\u1ecdng th\u00eam t\u00ecnh tr\u1ea1ng d\u01b0 cung<\/li>\n<li>L\u00e3i su\u1ea5t to\u00e0n c\u1ea7u t\u0103ng ho\u1eb7c \u0111\u1ed3ng USD m\u1ea1nh l\u00ean t\u1ea1o \u00e1p l\u1ef1c gi\u1ea3m gi\u00e1 tr\u00ean di\u1ec7n r\u1ed9ng \u0111\u1ed1i v\u1edbi h\u00e0ng h\u00f3a<\/li>\n<li>C\u00f4ng ngh\u1ec7 v\u1eadt li\u1ec7u thay th\u1ebf \u0111\u1ed3ng (nh\u01b0 nh\u00f4m) ph\u00e1t tri\u1ec3n nhanh, l\u00e0m suy y\u1ebfu t\u00ednh kh\u00f4ng co gi\u00e3n c\u1ee7a nhu c\u1ea7u \u0111\u1ed3ng<\/li>\n<li>C\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb h\u1ea1 nhi\u1ec7t, l\u00e0m gi\u1ea3m k\u1ef3 v\u1ecdng v\u1ec1 t\u0103ng tr\u01b0\u1edfng nhu c\u1ea7u t\u1eeb l\u0129nh v\u1ef1c qu\u1ed1c ph\u00f2ng<\/li>\n<\/ul>\n<h2>C\u00e1ch \u0111\u1ea7u t\u01b0 v\u00e0o \u0111\u1ed3ng \u2014 So s\u00e1nh theo t\u1eebng c\u00f4ng c\u1ee5<\/h2>\n<p>C\u00f3 nhi\u1ec1u c\u00e1ch ti\u1ebfp c\u1eadn th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng, v\u00e0 m\u1ed7i c\u00f4ng c\u1ee5 c\u00f3 c\u1ea5u tr\u00fac chi ph\u00ed c\u0169ng nh\u01b0 m\u1ee9c \u0111\u1ed9 r\u1ee7i ro kh\u00e1c nhau. B\u1ea3ng d\u01b0\u1edbi \u0111\u00e2y so s\u00e1nh c\u00e1c c\u00f4ng c\u1ee5 \u0111\u1ea7u t\u01b0 ch\u00ednh.<\/p>\n<figure class=\"wp-block-image size-full\"><img src=\"https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122506-vi.webp\" alt=\"Infographic so s\u00e1nh c\u00e1c c\u00f4ng c\u1ee5 \u0111\u1ea7u t\u01b0 \u0111\u1ed3ng: ETF, h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai, CFD v\u00e0 c\u1ed5 phi\u1ebfu khai th\u00e1c m\u1ecf \u2014 so s\u00e1nh v\u1ec1 kh\u1ea3 n\u0103ng ti\u1ebfp c\u1eadn, chi ph\u00ed v\u00e0 \u0111\u00f2n b\u1ea9y\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-574\" srcset=\"https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122506-vi-150x150.webp 150w, https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122506-vi-300x200.webp 300w, https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122506-vi-768x511.webp 768w, https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122506-vi-1024x682.webp 1024w, https:\/\/m4markets.com\/media-vn\/wp-content\/uploads\/sites\/7\/2026\/11\/copper-supply-and-demand-outlook-2026-2030-article-1792122506-vi.webp 1537w\" sizes=\"auto, (max-width: 1537px) 100vw, 1537px\" width=\"1537\" height=\"1023\" \/><\/figure>\n<h3>ETF \u0111\u1ed3ng \u2014 Kh\u1ea3 n\u0103ng ti\u1ebfp c\u1eadn v\u00e0 chi ph\u00ed rollover<\/h3>\n<p>ETF \u0111\u1ed3ng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ti\u1ebfp c\u1eadn kh\u00e1 d\u1ec5 d\u00e0ng th\u00f4ng qua t\u00e0i kho\u1ea3n ch\u1ee9ng kho\u00e1n. Tuy nhi\u00ean, c\u00e1c ETF c\u00f3 c\u1ea5u tr\u00fac d\u1ef1a tr\u00ean h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai s\u1ebd ph\u00e1t sinh chi ph\u00ed rollover khi h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai \u0111\u00e1o h\u1ea1n \u0111\u01b0\u1ee3c thay th\u1ebf b\u1eb1ng h\u1ee3p \u0111\u1ed3ng k\u1ef3 h\u1ea1n ti\u1ebfp theo. Khi th\u1ecb tr\u01b0\u1eddng \u1edf tr\u1ea1ng th\u00e1i contango, chi ph\u00ed rollover t\u00edch l\u0169y theo th\u1eddi gian c\u00f3 th\u1ec3 khi\u1ebfn l\u1ee3i su\u1ea5t c\u1ee7a ETF th\u1ea5p h\u01a1n m\u1ee9c t\u0103ng gi\u00e1 th\u1ef1c t\u1ebf c\u1ee7a \u0111\u1ed3ng trong d\u00e0i h\u1ea1n. Vi\u1ec7c c\u00f3 hay kh\u00f4ng c\u00f3 ph\u00f2ng ng\u1eeba r\u1ee7i ro t\u1ef7 gi\u00e1 (currency hedge) c\u0169ng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn l\u1ee3i su\u1ea5t, v\u00ec v\u1eady nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n \u0111\u1ecdc k\u1ef9 b\u1ea3n c\u00e1o b\u1ea1ch s\u1ea3n ph\u1ea9m tr\u01b0\u1edbc khi \u0111\u1ea7u t\u01b0.<\/p>\n<h3>H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai \u0111\u1ed3ng \u2014 \u0110\u00f2n b\u1ea9y v\u00e0 c\u1ea5u tr\u00fac k\u00fd qu\u1ef9<\/h3>\n<p>H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai \u0111\u1ed3ng giao d\u1ecbch tr\u00ean LME v\u00e0 COMEX cho ph\u00e9p s\u1eed d\u1ee5ng \u0111\u00f2n b\u1ea9y, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 n\u1eafm gi\u1eef v\u1ecb th\u1ebf l\u1edbn v\u1edbi s\u1ed1 v\u1ed1n nh\u1ecf. K\u00fd qu\u1ef9 (margin) l\u00e0 kho\u1ea3n t\u00e0i s\u1ea3n \u0111\u1ea3m b\u1ea3o \u0111\u1ec3 duy tr\u00ec v\u1ecb th\u1ebf, v\u00e0 kh\u00e1c v\u1edbi ph\u00ed giao d\u1ecbch (fee). N\u1ebfu gi\u00e1 bi\u1ebfn \u0111\u1ed9ng b\u1ea5t l\u1ee3i, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 b\u1ecb y\u00eau c\u1ea7u n\u1ed9p th\u00eam k\u00fd qu\u1ef9 (margin call); n\u1ebfu kh\u00f4ng \u0111\u00e1p \u1ee9ng \u0111\u01b0\u1ee3c, v\u1ecb th\u1ebf c\u00f3 th\u1ec3 b\u1ecb thanh l\u00fd b\u1eaft bu\u1ed9c. Gi\u00e1 LME \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft theo USD\/t\u1ea5n, trong khi h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai COMEX HG \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft theo USD\/pound, v\u00ec v\u1eady khi so s\u00e1nh hai th\u1ecb tr\u01b0\u1eddng c\u1ea7n quy \u0111\u1ed5i \u0111\u01a1n v\u1ecb th\u1ed1ng nh\u1ea5t.<\/p>\n<h3>CFD \u0111\u1ed3ng \u2014 C\u00f4ng c\u1ee5 d\u00e0nh cho nh\u00e0 giao d\u1ecbch ng\u1eafn h\u1ea1n<\/h3>\n<p>H\u1ee3p \u0111\u1ed3ng ch\u00eanh l\u1ec7ch (CFD) l\u00e0 h\u00ecnh th\u1ee9c thanh to\u00e1n ch\u00eanh l\u1ec7ch gi\u00e1 \u0111\u1ed3ng m\u00e0 kh\u00f4ng c\u1ea7n giao nh\u1eadn h\u00e0ng h\u00f3a th\u1ef1c t\u1ebf. Nh\u00e0 \u0111\u1ea7u t\u01b0 ti\u1ebfp c\u1eadn th\u00f4ng qua n\u1ec1n t\u1ea3ng c\u1ee7a broker, v\u1edbi chi ph\u00ed bao g\u1ed3m spread (ch\u00eanh l\u1ec7ch gi\u1eefa gi\u00e1 mua v\u00e0 gi\u00e1 b\u00e1n) v\u00e0 ph\u00ed qua \u0111\u00eam (swap) ph\u00e1t sinh khi gi\u1eef v\u1ecb th\u1ebf qua ng\u00e0y. Spread kh\u00e1c v\u1edbi hoa h\u1ed3ng (commission), c\u00f2n ph\u00ed qua \u0111\u00eam thay \u0111\u1ed5i t\u00f9y theo chi\u1ec1u v\u1ecb th\u1ebf, th\u1eddi gian n\u1eafm gi\u1eef v\u00e0 \u0111i\u1ec1u ki\u1ec7n c\u1ee7a t\u1eebng broker. \u0110\u1ec3 bi\u1ebft th\u00f4ng tin c\u1ee5 th\u1ec3 v\u1ec1 spread, \u0111\u00f2n b\u1ea9y, m\u00e3 s\u1ea3n ph\u1ea9m v\u00e0 c\u00e1c \u0111i\u1ec1u ki\u1ec7n giao d\u1ecbch CFD \u0111\u1ed3ng t\u1ea1i M4Markets, vui l\u00f2ng tham kh\u1ea3o tr\u1ef1c ti\u1ebfp t\u00e0i li\u1ec7u ch\u00ednh th\u1ee9c c\u1ee7a c\u00f4ng ty.<\/p>\n<p>C\u1ea3nh b\u00e1o r\u1ee7i ro: H\u1ee3p \u0111\u1ed3ng ch\u00eanh l\u1ec7ch (CFD) l\u00e0 s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh ph\u1ee9c t\u1ea1p v\u00e0 ti\u1ec1m \u1ea9n r\u1ee7i ro cao. \u0110\u00f2n b\u1ea9y c\u00f3 th\u1ec3 khu\u1ebfch \u0111\u1ea1i c\u1ea3 l\u1ee3i nhu\u1eadn l\u1eabn thua l\u1ed7, v\u00e0 t\u00f9y theo \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 m\u1ea5t to\u00e0n b\u1ed9 v\u1ed1n ban \u0111\u1ea7u. Tr\u01b0\u1edbc khi b\u1eaft \u0111\u1ea7u giao d\u1ecbch, b\u1ea1n n\u00ean t\u00ecm hi\u1ec3u k\u1ef9 c\u1ea5u tr\u00fac s\u1ea3n ph\u1ea9m v\u00e0 chi ph\u00ed li\u00ean quan, \u0111\u1ed3ng th\u1eddi th\u1ef1c h\u00e0nh tr\u00ean t\u00e0i kho\u1ea3n demo.<\/p>\n<h3>C\u1ed5 phi\u1ebfu li\u00ean quan \u0111\u1ebfn \u0111\u1ed3ng \u2014 \u0110\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu khai th\u00e1c m\u1ecf<\/h3>\n<p>C\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft li\u00ean quan \u0111\u1ebfn Codelco, ETF COPX (ETF c\u1ed5 phi\u1ebfu khai th\u00e1c \u0111\u1ed3ng to\u00e0n c\u1ea7u) v\u00e0 c\u00e1c c\u1ed5 phi\u1ebfu khai th\u00e1c m\u1ecf kh\u00e1c c\u00f3 th\u1ec3 h\u01b0\u1edfng l\u1ee3i khi gi\u00e1 \u0111\u1ed3ng t\u0103ng, nh\u01b0ng c\u0169ng ch\u1ecbu \u1ea3nh h\u01b0\u1edfng t\u1eeb nhi\u1ec1u y\u1ebfu t\u1ed1 ngo\u00e0i gi\u00e1 \u0111\u1ed3ng nh\u01b0 r\u1ee7i ro qu\u1ea3n tr\u1ecb doanh nghi\u1ec7p, chi ph\u00ed s\u1ea3n xu\u1ea5t, t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i v\u00e0 ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c. Gi\u00e1 \u0111\u1ed3ng t\u0103ng kh\u00f4ng \u0111\u1ed3ng ngh\u0129a v\u1edbi vi\u1ec7c c\u1ed5 phi\u1ebfu khai th\u00e1c m\u1ecf s\u1ebd t\u0103ng theo t\u1ef7 l\u1ec7 t\u01b0\u01a1ng \u1ee9ng.<\/p>\n<h2>Nh\u1eefng r\u1ee7i ro c\u1ea7n n\u1eafm r\u00f5 khi \u0111\u1ea7u t\u01b0 v\u00e0o \u0111\u1ed3ng<\/h2>\n<h3>Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 v\u00e0 r\u1ee7i ro v\u0129 m\u00f4<\/h3>\n<p>Gi\u00e1 \u0111\u1ed3ng ph\u1ea3n \u1ee9ng nh\u1ea1y c\u1ea3m v\u1edbi nhi\u1ec1u bi\u1ebfn s\u1ed1 v\u0129 m\u00f4 nh\u01b0 di\u1ec5n bi\u1ebfn kinh t\u1ebf Trung Qu\u1ed1c, s\u1ee9c m\u1ea1nh c\u1ee7a \u0111\u1ed3ng USD, ch\u00ednh s\u00e1ch l\u00e3i su\u1ea5t to\u00e0n c\u1ea7u v\u00e0 c\u00e1c r\u1ee7i ro \u0111\u1ecba ch\u00ednh tr\u1ecb (Trung \u0110\u00f4ng, xung \u0111\u1ed9t Nga\u2013Ukraine, v.v.). V\u00ec \u0111\u1ed3ng l\u00e0 h\u00e0ng h\u00f3a \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 b\u1eb1ng USD, gi\u00e1 \u0111\u1ed3ng th\u01b0\u1eddng ch\u1ecbu \u00e1p l\u1ef1c gi\u1ea3m khi USD m\u1ea1nh l\u00ean. Trung Qu\u1ed1c l\u00e0 n\u01b0\u1edbc ti\u00eau th\u1ee5 \u0111\u1ed3ng l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi, do \u0111\u00f3 s\u1ef1 ch\u00eanh l\u1ec7ch gi\u1eefa nhu c\u1ea7u bi\u1ec3u ki\u1ebfn (apparent demand) v\u00e0 ti\u00eau th\u1ee5 th\u1ef1c t\u1ebf (actual consumption) c\u1ee7a Trung Qu\u1ed1c, c\u0169ng nh\u01b0 vi\u1ec7c C\u1ee5c D\u1ef1 tr\u1eef Chi\u1ebfn l\u01b0\u1ee3c Nh\u00e0 n\u01b0\u1edbc (SRB) c\u00f3 x\u1ea3 h\u00e0ng hay kh\u00f4ng, \u0111\u1ec1u c\u00f3 t\u00e1c \u0111\u1ed9ng l\u1edbn \u0111\u1ebfn gi\u00e1 ng\u1eafn h\u1ea1n.<\/p>\n<h3>R\u1ee7i ro thua l\u1ed7 trong giao d\u1ecbch c\u00f3 \u0111\u00f2n b\u1ea9y<\/h3>\n<p>C\u00e1c s\u1ea3n ph\u1ea9m c\u00f3 \u0111\u00f2n b\u1ea9y nh\u01b0 h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai hay CFD cho ph\u00e9p n\u1eafm gi\u1eef v\u1ecb th\u1ebf l\u1edbn v\u1edbi m\u1ee9c k\u00fd qu\u1ef9 nh\u1ecf, qua \u0111\u00f3 m\u1edf r\u1ed9ng c\u01a1 h\u1ed9i sinh l\u1eddi, nh\u01b0ng thua l\u1ed7 c\u0169ng \u0111\u01b0\u1ee3c khu\u1ebfch \u0111\u1ea1i theo c\u00f9ng t\u1ef7 l\u1ec7. K\u00fd qu\u1ef9 th\u1ea5p kh\u00f4ng c\u00f3 ngh\u0129a l\u00e0 r\u1ee7i ro t\u00e0i ch\u00ednh gi\u1ea3m \u0111i. N\u1ebfu gi\u00e1 bi\u1ebfn \u0111\u1ed9ng b\u1ea5t l\u1ee3i, margin call s\u1ebd \u0111\u01b0\u1ee3c k\u00edch ho\u1ea1t; n\u1ebfu nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng \u0111\u00e1p \u1ee9ng \u0111\u01b0\u1ee3c, v\u1ecb th\u1ebf c\u00f3 th\u1ec3 b\u1ecb thanh l\u00fd b\u1eaft bu\u1ed9c. T\u00f9y theo quy \u0111\u1ecbnh ph\u00e1p l\u00fd v\u00e0 ph\u00e1p nh\u00e2n c\u1ee7a broker, thua l\u1ed7 c\u00f3 th\u1ec3 v\u01b0\u1ee3t qu\u00e1 s\u1ed1 v\u1ed1n ban \u0111\u1ea7u, v\u00e0 m\u1ee9c \u0111\u1ed9 b\u1ea3o v\u1ec7 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng kh\u00e1c nhau.<\/p>\n<h3>S\u1ef1 kh\u00e1c bi\u1ec7t v\u1ec1 quy \u0111\u1ecbnh theo t\u1eebng qu\u1ed1c gia<\/h3>\n<p>Gi\u1edbi h\u1ea1n \u0111\u00f2n b\u1ea9y, quy \u0111\u1ecbnh b\u1ea3o v\u1ec7 nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0 c\u00e1ch x\u1eed l\u00fd thu\u1ebf \u0111\u1ed1i v\u1edbi c\u00e1c s\u1ea3n ph\u1ea9m ph\u00e1i sinh nh\u01b0 CFD \u0111\u1ed3ng hay h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai c\u00f3 th\u1ec3 kh\u00e1c nhau t\u00f9y theo qu\u1ed1c gia v\u00e0 ph\u00e1p nh\u00e2n c\u1ee7a broker. M\u1ed9t s\u1ed1 s\u1ea3n ph\u1ea9m c\u00f3 th\u1ec3 kh\u00f4ng \u0111\u01b0\u1ee3c cung c\u1ea5p v\u1edbi c\u00f9ng \u0111i\u1ec1u ki\u1ec7n t\u1ea1i t\u1ea5t c\u1ea3 c\u00e1c qu\u1ed1c gia, v\u00ec v\u1eady tr\u01b0\u1edbc khi giao d\u1ecbch, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n ki\u1ec3m tra k\u1ef9 \u0111i\u1ec1u kho\u1ea3n ch\u00ednh th\u1ee9c v\u00e0 th\u00f4ng tin quy \u0111\u1ecbnh c\u1ee7a broker.<\/p>\n<h2>C\u00e2u h\u1ecfi th\u01b0\u1eddng g\u1eb7p<\/h2>\n<h3>T\u1ea1i sao gi\u00e1 \u0111\u1ed3ng t\u0103ng?<\/h3>\n<p>Gi\u00e1 \u0111\u1ed3ng \u0111\u01b0\u1ee3c quy\u1ebft \u0111\u1ecbnh b\u1edfi s\u1ef1 k\u1ebft h\u1ee3p c\u1ee7a nhi\u1ec1u y\u1ebfu t\u1ed1 nh\u01b0 c\u00e2n b\u1eb1ng cung c\u1ea7u, t\u1ef7 gi\u00e1 USD, t\u00ecnh h\u00ecnh kinh t\u1ebf Trung Qu\u1ed1c, k\u1ef3 v\u1ecdng chuy\u1ec3n d\u1ecbch n\u0103ng l\u01b0\u1ee3ng v\u00e0 c\u00e1c r\u1ee7i ro \u0111\u1ecba ch\u00ednh tr\u1ecb. \u0110\u00e0 t\u0103ng gi\u00e1 v\u00e0o \u0111\u1ea7u n\u0103m 2026 l\u00e0 k\u1ebft qu\u1ea3 t\u1ed5ng h\u1ee3p c\u1ee7a k\u1ef3 v\u1ecdng nhu c\u1ea7u t\u1eeb chuy\u1ec3n d\u1ecbch n\u0103ng l\u01b0\u1ee3ng, s\u1ef1 m\u1edf r\u1ed9ng spread COMEX\u2013LME do v\u1ea5n \u0111\u1ec1 thu\u1ebf quan c\u1ee7a M\u1ef9, v\u00e0 vi\u1ec7c th\u1ecb tr\u01b0\u1eddng ph\u1ea3n \u00e1nh tr\u01b0\u1edbc t\u00ecnh tr\u1ea1ng thi\u1ebfu h\u1ee5t ngu\u1ed3n cung c\u1ea5u tr\u00fac trong d\u00e0i h\u1ea1n. Ngay c\u1ea3 khi c\u00e2n b\u1eb1ng cung c\u1ea7u ng\u1eafn h\u1ea1n \u0111ang \u1edf tr\u1ea1ng th\u00e1i d\u01b0 cung, k\u1ef3 v\u1ecdng d\u00e0i h\u1ea1n v\u1eabn c\u00f3 th\u1ec3 h\u1ed7 tr\u1ee3 gi\u00e1.<\/p>\n<h3>T\u00ecnh tr\u1ea1ng thi\u1ebfu h\u1ee5t ngu\u1ed3n cung \u0111\u1ed3ng \u0111\u1ebfn n\u0103m 2030 c\u00f3 ch\u1eafc ch\u1eafn x\u1ea3y ra kh\u00f4ng?<\/h3>\n<p>Kh\u00f4ng ch\u1eafc ch\u1eafn. D\u1ef1 b\u00e1o th\u00e1ng 10 n\u0103m 2026 c\u1ee7a ICSG ch\u1ec9 r\u00f5 t\u00ecnh tr\u1ea1ng d\u01b0 cung trong giai \u0111o\u1ea1n 2026\u20132027, trong khi c\u00e1c d\u1ef1 b\u00e1o ch\u00ednh th\u1ee9c theo t\u1eebng n\u0103m cho giai \u0111o\u1ea1n 2028\u20132030 c\u00f2n r\u1ea5t h\u1ea1n ch\u1ebf. S&amp;P Global d\u1ef1 b\u00e1o s\u1ea3n l\u01b0\u1ee3ng khai th\u00e1c m\u1ecf c\u00f3 th\u1ec3 \u0111\u1ea1t \u0111\u1ec9nh v\u00e0o kho\u1ea3ng n\u0103m 2030 r\u1ed3i suy gi\u1ea3m, nh\u01b0ng \u0111\u00e2y l\u00e0 k\u1ecbch b\u1ea3n c\u00f3 \u0111i\u1ec1u ki\u1ec7n. K\u1ebft qu\u1ea3 th\u1ef1c t\u1ebf c\u00f3 th\u1ec3 thay \u0111\u1ed5i \u0111\u00e1ng k\u1ec3 t\u00f9y thu\u1ed9c v\u00e0o s\u1ef1 bi\u1ebfn \u0111\u1ed9ng nhu c\u1ea7u c\u1ee7a Trung Qu\u1ed1c, ngu\u1ed3n cung \u0111\u1ed3ng ph\u1ebf li\u1ec7u t\u0103ng l\u00ean v\u00e0 t\u1ed1c \u0111\u1ed9 ph\u00e1t tri\u1ec3n c\u00e1c m\u1ecf m\u1edbi. Nh\u01b0 c\u00e1c tr\u01b0\u1eddng h\u1ee3p ICSG \u0111\u1ea3o ng\u01b0\u1ee3c d\u1ef1 b\u00e1o cho th\u1ea5y, d\u1ef1 \u0111o\u00e1n th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng c\u00f3 th\u1ec3 thay \u0111\u1ed5i l\u1edbn ngay c\u1ea3 trong ng\u1eafn h\u1ea1n.<\/p>\n<h3>T\u1ea1i sao gi\u00e1 LME v\u00e0 gi\u00e1 COMEX l\u1ea1i kh\u00e1c nhau?<\/h3>\n<p>Gi\u00e1 \u0111\u1ed3ng tr\u00ean LME (S\u1edf Giao d\u1ecbch Kim lo\u1ea1i London) \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft theo USD\/t\u1ea5n, trong khi h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai COMEX HG \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft theo USD\/pound (lb). \u0110\u1ec3 so s\u00e1nh gi\u00e1 gi\u1eefa hai th\u1ecb tr\u01b0\u1eddng, c\u1ea7n quy \u0111\u1ed5i \u0111\u01a1n v\u1ecb (1 lb \u2248 0,000454 t\u1ea5n). Ngo\u00e0i ra, ch\u00eanh l\u1ec7ch gi\u00e1 gi\u1eefa hai th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 thay \u0111\u1ed5i t\u00f9y theo thu\u1ebf quan, chi ph\u00ed logistics v\u00e0 chi ph\u00ed kinh doanh ch\u00eanh l\u1ec7ch gi\u00e1 (arbitrage) \u2014 \u0111i\u1ec3n h\u00ecnh l\u00e0 tr\u01b0\u1eddng h\u1ee3p spread COMEX\u2013LME t\u1eebng m\u1edf r\u1ed9ng l\u00ean m\u1ee9c kho\u1ea3ng 30% do v\u1ea5n \u0111\u1ec1 thu\u1ebf quan c\u1ee7a M\u1ef9 v\u00e0o n\u0103m 2026.<\/p>\n<h3>Chi ph\u00ed rollover c\u1ee7a ETF \u0111\u1ed3ng l\u00e0 g\u00ec?<\/h3>\n<p>ETF \u0111\u1ed3ng d\u1ef1a tr\u00ean h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai s\u1ebd thay th\u1ebf (rollover) h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai \u0111ang n\u1eafm gi\u1eef b\u1eb1ng h\u1ee3p \u0111\u1ed3ng k\u1ef3 h\u1ea1n ti\u1ebfp theo khi h\u1ee3p \u0111\u1ed3ng hi\u1ec7n t\u1ea1i \u0111\u00e1o h\u1ea1n. Trong tr\u1ea1ng th\u00e1i contango \u2014 khi gi\u00e1 h\u1ee3p \u0111\u1ed3ng k\u1ef3 h\u1ea1n xa cao h\u01a1n h\u1ee3p \u0111\u1ed3ng k\u1ef3 h\u1ea1n g\u1ea7n \u2014 qu\u00e1 tr\u00ecnh n\u00e0y t\u1ea1o ra c\u1ea5u tr\u00fac mua h\u1ee3p \u0111\u1ed3ng \u0111\u1eaft h\u01a1n v\u00e0 b\u00e1n h\u1ee3p \u0111\u1ed3ng r\u1ebb h\u01a1n, t\u1eeb \u0111\u00f3 ph\u00e1t sinh chi ph\u00ed. Khi chi ph\u00ed rollover t\u00edch l\u0169y theo th\u1eddi gian, l\u1ee3i su\u1ea5t c\u1ee7a ETF trong d\u00e0i h\u1ea1n c\u00f3 th\u1ec3 th\u1ea5p h\u01a1n m\u1ee9c t\u0103ng gi\u00e1 th\u1ef1c t\u1ebf c\u1ee7a \u0111\u1ed3ng giao ngay.<\/p>\n<h3>C\u00e1ch \u0111\u01a1n gi\u1ea3n nh\u1ea5t \u0111\u1ec3 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n \u0111\u1ea7u t\u01b0 v\u00e0o \u0111\u1ed3ng l\u00e0 g\u00ec?<\/h3>\n<p>V\u1ec1 m\u1eb7t kh\u1ea3 n\u0103ng ti\u1ebfp c\u1eadn, ETF \u0111\u1ed3ng giao d\u1ecbch qua t\u00e0i kho\u1ea3n ch\u1ee9ng kho\u00e1n l\u00e0 l\u1ef1a ch\u1ecdn thu\u1eadn ti\u1ec7n nh\u1ea5t. N\u1ebfu mu\u1ed1n tham gia v\u00e0o bi\u1ebfn \u0111\u1ed9ng gi\u00e1 ng\u1eafn h\u1ea1n, CFD l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn \u0111\u00e1ng c\u00e2n nh\u1eafc, nh\u01b0ng c\u1ea7n hi\u1ec3u r\u00f5 r\u1ee7i ro \u0111\u00f2n b\u1ea9y v\u00e0 chi ph\u00ed qua \u0111\u00eam tr\u01b0\u1edbc khi giao d\u1ecbch. D\u00f9 ch\u1ecdn c\u00f4ng c\u1ee5 n\u00e0o, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng n\u00ean \u0111\u1ecdc k\u1ef9 b\u1ea3n c\u00e1o b\u1ea1ch s\u1ea3n ph\u1ea9m v\u00e0 c\u1ea5u tr\u00fac chi ph\u00ed, \u0111\u1ed3ng th\u1eddi th\u1ef1c h\u00e0nh \u0111\u1ea7y \u0111\u1ee7 tr\u00ean t\u00e0i kho\u1ea3n demo tr\u01b0\u1edbc khi b\u1eaft \u0111\u1ea7u giao d\u1ecbch th\u1ef1c.<\/p>\n<h2>C\u00e1c bi\u1ebfn s\u1ed1 cung c\u1ea7u c\u1ea7n theo d\u00f5i trong tri\u1ec3n v\u1ecdng gi\u00e1 \u0111\u1ed3ng<\/h2>\n<p>Khi ph\u00e2n t\u00edch th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng, \u0111i\u1ec1u quan tr\u1ecdng nh\u1ea5t l\u00e0 ph\u00e2n bi\u1ec7t gi\u1eefa c\u00e2n b\u1eb1ng cung c\u1ea7u ng\u1eafn h\u1ea1n v\u00e0 xu h\u01b0\u1edbng c\u1ea5u tr\u00fac d\u00e0i h\u1ea1n. D\u1ef1 b\u00e1o d\u01b0 cung giai \u0111o\u1ea1n 2026\u20132027 c\u1ee7a ICSG v\u00e0 d\u1ef1 b\u00e1o thi\u1ebfu h\u1ee5t c\u1ea5u tr\u00fac v\u00e0o n\u0103m 2040 c\u1ee7a S&amp;P Global kh\u00f4ng m\u00e2u thu\u1eabn v\u1edbi nhau \u2014 \u0111\u00e2y \u0111\u01a1n gi\u1ea3n l\u00e0 hai th\u1ef1c t\u1ebf \u0111\u01b0\u1ee3c nh\u00ecn nh\u1eadn tr\u00ean hai tr\u1ee5c th\u1eddi gian kh\u00e1c nhau. D\u00f9 tham kh\u1ea3o d\u1ef1 b\u00e1o c\u1ee7a t\u1ed5 ch\u1ee9c n\u00e0o, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng c\u1ea7n ki\u1ec3m tra th\u1eddi \u0111i\u1ec3m c\u00f4ng b\u1ed1, giai \u0111o\u1ea1n d\u1ef1 b\u00e1o, \u0111\u01a1n v\u1ecb t\u00ednh v\u00e0 c\u00e1c \u0111i\u1ec1u ki\u1ec7n k\u1ecbch b\u1ea3n \u0111i k\u00e8m, \u0111\u1ed3ng th\u1eddi kh\u00f4ng n\u00ean xem b\u1ea5t k\u1ef3 d\u1ef1 b\u00e1o \u0111\u01a1n l\u1ebb n\u00e0o l\u00e0 t\u01b0\u01a1ng lai ch\u1eafc ch\u1eafn.<\/p>\n<p>C\u00e1c bi\u1ebfn s\u1ed1 tr\u1ecdng y\u1ebfu c\u1ea7n theo d\u00f5i bao g\u1ed3m: Th\u1ee9 nh\u1ea5t, ch\u00eanh l\u1ec7ch gi\u1eefa nhu c\u1ea7u bi\u1ec3u ki\u1ebfn v\u00e0 ti\u00eau th\u1ee5 th\u1ef1c t\u1ebf c\u1ee7a Trung Qu\u1ed1c, c\u0169ng nh\u01b0 kh\u1ea3 n\u0103ng x\u1ea3 kho d\u1ef1 tr\u1eef chi\u1ebfn l\u01b0\u1ee3c. Th\u1ee9 hai, t\u1ed1c \u0111\u1ed9 t\u0103ng ngu\u1ed3n cung t\u1eeb t\u00e1i ch\u1ebf v\u00e0 tinh luy\u1ec7n \u0111\u1ed3ng ph\u1ebf li\u1ec7u. Th\u1ee9 ba, nguy c\u01a1 gi\u00e1n \u0111o\u1ea1n s\u1ea3n xu\u1ea5t t\u1ea1i c\u00e1c qu\u1ed1c gia khai th\u00e1c l\u1edbn nh\u01b0 Chile v\u00e0 Peru. Th\u1ee9 t\u01b0, t\u1ed1c \u0111\u1ed9 \u0111\u1ea7u t\u01b0 v\u00e0o chuy\u1ec3n \u0111\u1ed5i n\u0103ng l\u01b0\u1ee3ng v\u00e0 m\u1ee9c \u0111\u1ed9 hi\u1ec7n th\u1ef1c h\u00f3a nhu c\u1ea7u \u0111\u1ed3ng t\u1eeb c\u00e1c trung t\u00e2m d\u1eef li\u1ec7u AI. Th\u1ee9 n\u0103m, t\u1ef7 gi\u00e1 USD v\u00e0 \u0111\u1ecbnh h\u01b0\u1edbng ch\u00ednh s\u00e1ch l\u00e3i su\u1ea5t to\u00e0n c\u1ea7u. Li\u00ean t\u1ee5c theo d\u00f5i v\u00e0 c\u1eadp nh\u1eadt c\u00e1c bi\u1ebfn s\u1ed1 n\u00e0y ch\u00ednh l\u00e0 c\u00e1ch ti\u1ebfp c\u1eadn th\u1ef1c ch\u1ea5t nh\u1ea5t \u0111\u1ec3 n\u1eafm b\u1eaft th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng. N\u1ebfu b\u1ea1n \u0111ang c\u00e2n nh\u1eafc giao d\u1ecbch CFD ho\u1eb7c h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai \u0111\u1ed3ng, h\u00e3y tham kh\u1ea3o t\u00e0i li\u1ec7u ch\u00ednh th\u1ee9c c\u1ee7a M4Markets \u0111\u1ec3 n\u1eafm r\u00f5 \u0111i\u1ec1u ki\u1ec7n giao d\u1ecbch v\u00e0 c\u1ea3nh b\u00e1o r\u1ee7i ro, \u0111\u1ed3ng th\u1eddi n\u00ean s\u1eed d\u1ee5ng t\u00e0i kho\u1ea3n demo \u0111\u1ec3 l\u00e0m quen v\u1edbi c\u1ea5u tr\u00fac giao d\u1ecbch tr\u01b0\u1edbc khi b\u1eaft \u0111\u1ea7u.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>T\u1eeb n\u0103m 2026 \u0111\u1ebfn n\u0103m 2030, th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng kh\u00f3 c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c \u0111\u1ecbnh ngh\u0129a \u0111\u01a1n gi\u1ea3n l\u00e0 &#x27;thi\u1ebfu cung&#x27; hay &#x27;d\u01b0 cung&#x27;. Theo d\u1ef1 b\u00e1o m\u1edbi nh\u1ea5t c\u1ee7a Nh\u00f3m Nghi\u00ean c\u1ee9u \u0110\u1ed3ng Qu\u1ed1c t\u1ebf (ICSG) c\u00f4ng b\u1ed1 v\u00e0o th\u00e1ng 10 n\u0103m 2026, th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng tinh luy\u1ec7n \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o s\u1ebd d\u01b0 cung trong giai \u0111o\u1ea1n 2026\u20132027. Trong khi \u0111\u00f3, S&amp;P Global ph\u00e2n t\u00edch r\u1eb1ng nhu c\u1ea7u c\u00f3 th\u1ec3 t\u0103ng 50% \u0111\u1ebfn n\u0103m 2040, d\u1eabn \u0111\u1ebfn t\u00ecnh tr\u1ea1ng thi\u1ebfu h\u1ee5t cung c\u01a1 c\u1ea5u ng\u00e0y c\u00e0ng tr\u1ea7m tr\u1ecdng. \u0110i\u1ec3m m\u1ea5u ch\u1ed1t c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng hi\u1ec7n nay ch\u00ednh l\u00e0 s\u1ef1 t\u1ed3n t\u1ea1i \u0111\u1ed3ng th\u1eddi c\u1ee7a hai xu h\u01b0\u1edbng n\u00e0y. B\u00e0i [&hellip;]<\/p>\n","protected":false},"author":41,"featured_media":572,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodity-trading"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tri\u1ec3n v\u1ecdng cung c\u1ea7u \u0111\u1ed3ng 2026\u20132030 [B\u1ea3ng so s\u00e1nh theo t\u1ed5 ch\u1ee9c] \u2014 D\u01b0 cung hay thi\u1ebfu h\u1ee5t c\u01a1 c\u1ea5u?<\/title>\n<meta name=\"description\" content=\"So s\u00e1nh tri\u1ec3n v\u1ecdng c\u00e2n b\u1eb1ng cung c\u1ea7u th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng giai \u0111o\u1ea1n 2026\u20132030 theo d\u1ef1 b\u00e1o c\u1ee7a ICSG, S&amp;P Global v\u00e0 Goldman Sachs. 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