坐上“过山车”！铜价连续重挫，中国资金节前“离场观望”

Core Viewpoint - Copper prices have continued to decline, extending the significant drop from the previous Friday, driven by intense market fluctuations in China and ongoing investor speculation about future trends [1] Group 1: Price Movements - As of the latest report, LME copper prices fell by 3.92% to $12,653 per ton, following a 3.4% drop the previous Friday [1] - Copper prices had previously surged to over $14,500 per ton, a historical high, before dropping below $13,000 during trading last Friday [1] Group 2: Market Dynamics - The basic and precious metals markets have been dominated by strong investor interest, particularly in China, due to concerns about the dollar's outlook and a rotation of funds out of currencies and sovereign bonds [1] - The recent price drop was triggered by the nomination of Kevin Warsh, known for his tough stance on inflation, to lead the Federal Reserve [1] Group 3: Investor Sentiment - Analysts noted that some funds exited the market before the Chinese New Year to avoid risks associated with high volatility, but the long-term bullish sentiment among Chinese investors remains unchanged [1] - January marked the most active month for metal trading in the Shanghai Futures Exchange's history, with copper trading volumes reaching record highs during last Friday's sharp decline [1] Group 4: Supply and Demand Outlook - Copper is viewed as an attractive investment due to strong demand prospects and tight supply, despite the recent price surge occurring amid stagnation in Chinese manufacturing activity [1]