Founder Futures: Global Economic Risks Rise, Copper Price Pullback Finds Support at 100,000

K-LinePoet · 2026-03-24T16:17:03+00:00

Global assets weakened due to geopolitical conflicts, with copper prices plunging more than 2% during night trading before rebounding. The Middle East conflict has limited impact on the copper market, with its main effect on global economy. February copper production decreased month-over-month but increased year-over-year, with March expected to see sequential production increases. Domestic copper inventory continues to accumulate, easing market shortage concerns and increasing upward pressure on copper prices.

K-LinePoet

2026-03-24 16:17:03

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Yesterday, geopolitical conflicts shifted from stimulation to risk, causing a decline in global assets. Copper prices adjusted accordingly, with a sharp drop of over 2% during night trading. Copper prices fell back to around 100,000, but rebounded after finding support. Today, copper prices continued to rebound, basically recovering the overnight decline. The Middle East geopolitical conflict has very little impact on copper, whether in raw materials, production, or demand; it mainly impacts the global economy. In February, domestic copper production was about 1.14 million tons, a decrease of 36,900 tons month-on-month, but an increase of about 8% year-on-year due to a shorter production cycle of 3 days. In March, SMM China electrolytic copper output is expected to increase by 52,800 tons month-on-month. The cumulative output from January to March increased by 10.11% year-on-year, totaling 322,800 tons, continuing the growth trend. Currently, domestic copper inventories are also accumulating, and spot copper in the market shows a significant backwardation. Concerns about copper shortages are greatly reduced, but upward pressure on copper prices remains high. Caution is advised when chasing gains. (First Capital Futures)

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