Spot copper's demand (some industrial countries account for the largest proportion, such as China and India, so the demand for spot copper leaching mainly depends on these aspects) and there are six other small factors:

1, sudden and significant Zheng Zhi time (spot copper has not only general commodity attributes, but also strategic material attributes, so it is influenced by political strength and political situation.

2, spot copper inventory changes (inventory is a buffer between supply and demand, when the futures price is higher than the spot, commercial inventory will increase, stimulate the spot growth. On the contrary, it will lead to a sharp drop in spot prices)

3. The market intervention of the Organization of Petroleum Exporting Countries and IEA (they can change the market supply pattern in a short time, thus changing people's expectations for the trend of spot copper Jiage).

4. In the international capital market, hot money flows out or in (when opportunities are often lacking in Jin Rong, a large number of international commodities obtained by itself, especially the spot copper market, inevitably push up international prices and seriously deviate from the fundamentals).

5. Exchange rate changes (spot copper price changes and Meiyuan are negatively correlated with the exchange rate changes of major international currencies, and the rise of Meiyuan puts pressure on spot copper, and spot copper settles in Meiyuan. When geopolitics is in turmoil, spot copper and Weiyuan are positively related, and the two complement each other)