London Metal Exchange (LME) copper prices experienced epic volatility on Monday (April 8) : in the opening 15 minutes of the market plunged 7.7% to $8,105 / ton, followed by a violent rebound of nearly $1,000 in two hours, the largest intraday amplitude in 16 years. Behind this thrilling market, Chinese buyers staged a textbook "Kontrarisk bundjagt" -drama i markedskaos forårsaget af Trumps nye toldaftale . Udløseren for tariffolet til ubalance Det globale kobbermarked kan spores tilbage til Trump -administrationens aggressive toldplan, trade, and a large amount of inventories had been moved to the United States in advance to avoid costs, leading to a short-term supply tightening in China. With markets closed for the Qingming Festival holiday, Chinese buyers failed to participate in the first round of copper price collapse last week, and faced a rare inversion of copper prices in Shanghai and London at the start of trading on Monday (Shanghai copper prices were at a premium of $1,000 / ton over London), opening up import arbitrage space instantly. As the world's largest copper consumer (accounting for more than 50%), the actions of Chinese buyers have always had the power to rewrite the market playbook. Trading data showed that copper trading volume in the second hour of Monday broke the daily record since Trump's election in 2016, with Chinese Producenter og importører, der går ind i beslutningstagerne på det psykologiske niveau på $ 8.500 / ton . "Da Shanghai Copper Premium skød op til $ 87 pr. Ton (en to-og-et halvt år høj), blev folk fra et bestemt landskøb næsten købt," til en bælter, der var på fuldt udsendelse i en international investeringsbank, fortalte den økonomiske tid. Panik . "Dette er en velkendt historie: I løbet af finanskrisen i 2008 sendte Kinas 4 billioner stimuluspakke kobberpriser, der steg fra $ 2.800 til $ 8.900 pr. Ton; Efter epidemien i 2020 førte inddrivelsen af den kinesiske efterspørgsel også til en V-formet omvendelse af kobberpriser . "Når kinesiske købere dukker op til lave priser, har markedet en tendens til at snuse ud af politikken på forhånd," Analytikere ved Citigroup sagde {{48}, skønt kobber endte på dagen ned 0,5 procent på $ 8,732 a ton, det nåede en intraday af 8 Et ton, bare et skridt væk fra fuldt ud at dække springet.
