SMM

SHFE copper and international copper opened significantly lower in the morning, with the most-traded contracts both falling by more than 2%. The center of futures prices continued to decline, with SHFE copper hitting a new low in over a year. Recent copper price movements remain anchored to macro factors. Against the backdrop of escalating trade conflicts, the market is increasingly concerned about economic recession and the demand outlook for industrial products. The pessimistic sentiment persists, and copper prices continue to face downward pressure.