The epidemic situation in Shanghai has improved and is being gradually unsealed. The market sentiment has improved, and the subsequent copper consumption may accelerate the recovery.

The April economic data released this week fell sharply, and the impact of the epidemic on the domestic economy exceeded expectations; However, on the 15th, the central bank lowered the LPR plus point of housing loan interest rate. Under the background of great downward pressure on the domestic economy, more domestic stimulus policies may be introduced to support the economy.

Supported by the improvement of the epidemic and the recovery of copper demand, it is expected that the short-term copper price may rebound slightly. However, in the medium term, with the steady increase of global copper supply and the global economic downturn due to the Fed’s interest rate increase under the pressure of high inflation, the focus of copper prices will continue to decline