Core Viewpoint - The copper market is experiencing significant volatility, with contrasting trends between international and domestic prices, highlighting underlying economic concerns and supply-demand dynamics [2][4][5]. Group 1: International Market Dynamics - LME copper price increased slightly by $5, reaching $9,771 per ton, which is seen as inadequate given global economic recovery expectations [2]. - The strong performance of the US dollar and rising PPI in the US have negatively impacted copper prices, leading to investor hesitation [7]. Group 2: Domestic Market Trends - Domestic copper prices in Guangdong have sharply declined, with 1 copper closing at 79,010 yuan per ton, a drop of 380 yuan in a single day [2][4]. - The Jiangsu market also faced a decline, with 1 copper price falling to 79,300 yuan per ton, down 300 yuan [4]. - The price difference between Guangdong and Jiangsu has widened to 290 yuan, indicating regional market disparities influenced by logistics and demand [5]. Group 3: Supply and Demand Factors - Weak demand from the construction and real estate sectors is a major factor contributing to the overall weakness in copper prices [7]. - Increased inventory of imported copper materials in Guangdong has reached 32,000 tons, leading buyers to push for lower prices [9]. - The market is witnessing a shift in product dynamics, with copper pipe prices remaining stable at around 41,100 yuan per ton, while lower-priced alternatives are gaining market share [9]. Group 4: Futures Market Insights - Shanghai Futures Exchange copper contracts also saw declines, with the main contract dropping by 140 yuan per ton to 78,980 yuan [7]. - Investors are closely monitoring macroeconomic data and industry trends, remaining cautious in their trading strategies [7].