Copper prices rose slightly, and the short-term volatility was still strong

In the external market, LME copper rebounded from its low level in March this week, rising to a new stage high of $5295 at the end of the week, closing at $5280.
5, a weekly increase of 3.
42%.

This week, the Shanghai copper index opened 42330 yuan lower and then fluctuated higher, closing at 43520 yuan, up 1.
24%.

This week's spot copper prices first fell and then rose, traders on the first day after the holiday were willing to take advantage of the low, downstream just needed to stock, trading was good, imported copper inflow at the end of the week, traders traded weakly, downstream enterprises consumption was general, and the overall market trading during the week was acceptable
.

Unwrought copper and copper imports increased year-on-year in April, while Europe and the United States considered starting to unblock the economy, and the call between Chinese and US negotiators at the end of the week released good confidence to push copper prices higher
.
London copper stocks continued to deteriorate this week, with a cumulative decrease of 7,775 metric tons to 243,700 metric tons, a cumulative decrease of 3.
09%.

Since April, market panic has eased
.
As the world's largest copper consumer, China's epidemic control has been effectively controlled, and domestic consumption has rebounded
.
The major mineral countries Chile, Peru and other countries have entered a state of emergency due to the disruption of the epidemic, and the production of many copper mines has been substantially affected
.
In the short term, the mismatch between supply and demand has become the driving force of the
copper rebound.

Based on the above situation, domestic production has recovered rapidly, downstream demand has picked up seasonally, and the consumer market still has strong resilience
.
Copper continues to destock, which has strong support
for prices.
It is expected that copper prices will remain volatile in the short term
.