Copper prices hit a record high and then fell back, cooling market risk sentiment.

Due to the widespread risk aversion sentiment in the market and the strength of the US dollar, copper prices fell after hitting a historic high in the previous trading day. LME copper fell 2.9% in early trading to $13,310 per ton, but still has the potential to achieve a weekly gain of 1.4%. Analysts at Shengbao Bank stated that although the long-term macro environment remains supportive, multiple short-term micro factors currently do not support further increases in copper prices. Considering the speculative nature of the recent uptrend, the risk of a sharp pullback in the market is increasing.