Shanghai copper is mainly volatile for the time being, and it is impossible to fall sharply in the short term

This week's LME March copper first fell and then rose, opening at $5,020 on Monday, starting from the highest point of $5,030 began to fluctuate down, diving many times during the week, the lowest point was $4,873, Thursday began to rebound higher, Thursday night rose strongly, the domestic trading session closed at $4,968, down $52, or 1.
14%.

In the copper market, the domestic spot discount has narrowed this week, with a discount of 140-100 yuan on Friday, but it is still significantly lower than the previous year's level
.
On the last trading day before the holiday, limited by objective factors such as settlement and logistics, the buying volume decreased significantly compared with yesterday, and the overall transaction volume of the market rose first and then declined, and the pre-holiday characteristics were obvious
.
Spot import losses have remained at several hundred yuan this week, and if domestic inventories are turning out, copper prices may still come under pressure
with the release of domestic inventories.

Copper prices retreated
after a weak surge this week.
Among them, the Shanghai copper July contract closed down 320 yuan on the day, closing at 37660 yuan
.
The dollar's weakness late in the week supported copper prices to some extent
.

On the whole, copper prices have been dominated by shocks in recent years, and it is difficult to break through the 37,000 mark
downward.
The US dollar interest rate hike may be postponed to September, making it impossible for copper prices to fall sharply for the time being, but in the medium and long term, with the end of the copper demand season in May and the cooling of macro-favorable market long sentiment, it is expected that if downstream demand declines rapidly after May, copper prices may continue to decline
.