On the previous trading day, London copper opened at 9,646 US dollars/ton, peaked at 9,758 US dollars/ton, and closed at 9,562 US dollars/ton; Compared to the previous trading day, it fell by 60.5 US dollars/ton, a decrease of 0.63%.

Fundamentally, with the support of domestic real estate stimulus policies and interest rate and reserve requirement ratio cuts, copper prices have been able to maintain a high trend. As of October 22nd, the market is still in the traditional peak season, but there has been a cumulative increase in social inventory after the Double Festival, and downstream consumer sentiment was relatively weak.

Although macro factors determine the lower limit of copper prices, if consumption and inventory continue to decline, the risk of copper price volatility may increase.

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