Shanghai Copper Prices Volatile Amid Ongoing Geopolitical Risks

Copper prices in Shanghai are showing volatility after a recent surge, according to Caixin Futures. Macro-level geopolitical risks have not fully dissipated, but market sentiment is marginally recovering.

The supply side of copper remains tight, with long-term mine supply and low refined copper visible inventories contributing to price pressures. Overseas copper spot shortages are intensifying squeeze risks, driven by domestic rigid-demand procurement while consumption remains weak.

Lacking sustained upward momentum, copper prices are expected to fluctuate in the short term, with attention paid to the US Federal Reserve's interest rate policy path.