Chaos Tiancheng Futures: The Non-Ferrous Metals Association emphasizes strict control of new capacity additions and improvement of reserve mechanisms, with copper trending stronger upward.

The current factors influencing copper prices remain numerous, with macro risks still being the dominant factor. The long-term narrative is the key driver of copper prices over the long term, but at this stage, market sentiment guides trading, with a high concentration. It is very important to remain vigilant against high volatility. In a high-volatility environment, downstream supply and demand should not be overlooked. As long as technical support levels are not broken, it is still advisable to view the market with a bullish bias. (Hunton Tiancheng Futures)