The global epidemic continues to break out, and London copper fell sharply during the week

London Metal Exchange (LME) copper futures closed lower on Friday, recording its biggest weekly decline since September 2011, amid growing concerns about the impact of the coronavirus on the global economy, weighing on the outlook
for metal demand.

The continuous outbreak of the global epidemic continued to be the core driver of the collapse of London copper, which in turn led to an amplification of market fears of recession, which in turn led to increased systemic risks, and eventually investors were strongly willing to sell goods for cash, and the non-ferrous metals market plummeted
.

LME three-month copper closed down 0.
5% at $4,810 a tonne at 17:00 London time on March 20 (01:00 Beijing time on March 21), rising for most of trading Friday as central banks took stimulus measures
.

Copper prices, seen as a bellwether of the global economy, fell 11 percent this week and fell as low as $4,371 a tonne on Thursday, the lowest level
since January 2016.
The survey shows that the global economy has fallen into recession as the coronavirus pandemic hits economic activity more
widely.
Nitesh Shah, an analyst at Wisdom Tree, said: "If this is a protracted economic downturn, metal demand may be hit
quite hard.

The Bank of England cut interest rates to 0.
1 percent on Thursday after global central banks such as the European Central Bank took stimulus, its second emergency cut in a little over a week and pledged to increase its £200 billion bond-buying program
.

China's LPR (Loan Market Quotation Rate) held steady in March, surprising markets that had expected a slight downward revision in one-year
quotations.
Although the RRR has just been lowered, the scale of funds released is limited, and the MLF (Medium-Term Lending Facility) interest rate has not moved unexpectedly; Banks are constrained by the rigid cost of liabilities and weak willingness to reduce LPR; However, the current task of stabilizing growth and preventing risks is still arduous, and monetary policy will continue to have "moderate easing
.
"

LME spot copper fell to $4.
75 a tonne from the three-month copper contract, the lowest
since May 2019.