Today (April 9th), the international copper market performed steadily, with international copper main contract prices edging higher. As of 13:33, the quotation was 86,851 yuan, an increase of 0.50%, with an intraday high of 87,360 yuan and a low of 86,320 yuan, and a trading volume of 2,563 lots, showing a moderate volatile upward trend.

The slight rise in international copper prices is mainly due to two factors: first, the recovery of global stock markets has boosted market risk appetite and improved the expected demand for industrial metals; second, the short-term weakness of the US dollar index has provided support for copper prices denominated in US dollars. In addition, the gradual recovery of the global supply chain and the steady progress of industrial production activities have also provided certain support for copper prices.

Different from the moderate rise in copper prices, the global commodity market showed a differentiated trend today. Affected by the US-Iran ceasefire expectations, international crude oil prices plummeted sharply earlier, with WTI crude oil falling more than 8% at one point. Although it rebounded slightly due to the blockade of the Strait of Hormuz, it is still in a volatile adjustment range overall; safe-haven assets such as gold have shown high-level volatile consolidation due to the fading risk sentiment, with the range maintained at 4,650-4,750 US dollars.

Analysts believe that in the short term, the global commodity market will continue to be affected by geopolitical tensions, Federal Reserve policies and changes in global demand. Copper prices may maintain moderate volatility, while the volatility of crude oil, gold and other varieties will further increase. Investors need to focus on changes in the geopolitical situation and policy aspects.