Copper Prices Face Geopolitical and Macro Challenges, Supply Disruptions Drive Upward Momentum

Q1: Geopolitical and Macro Tug-of-War, Destocking and Stockpiling Consolidate at Lows
Macro shocks and retreat after rapid rise: At the start of the year, capital inflows drove futures to briefly break through the 110,000 yuan/mt mark.
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