The dollar index retreated and copper prices strengthened in the short term.

On Monday, the main 2504 contract of Shanghai copper was strongly shocked, the first line of London copper 9400 US dollars stabilized and waited for the direction, the domestic C structure convergence in recent months after June to B structure, electrolytic copper spot market transactions slightly improved on Monday, downstream restocking willingness to pick up, and the spot discount narrowed to 80 yuan/ton. LME stocks fell to 261,000 tonnes yesterday. On the macro front: Trump said he would impose tariffs on agricultural imports into the United States in April, and a 25% tariff on Canadian and Mexican goods will go into effect today, while the United States is working on a plan that could ease sanctions on Russia. The US ISM manufacturing PMI in February was 50.3, lower than the expected 50.8, of which the new orders index plunged to 48.6(month-on-month -6.5%), the first contraction in nearly half a year, the employment index fell to 47.6, indicating that the US manufacturing market demand fell into contraction, the marginal decline in enterprise demand for labor, while the price payment index rose to a new high in nearly three years. There is a growing risk that the US economy could stagflate. The president of the St. Louis Federal Reserve Bank said that long-term inflation expectations in the United States have remained stable, but short-end expectations have become unstable recently, and Fed policy should remain moderately restrictive until there is more evidence that inflation is returning to 2 percent. Industry: Peru's mining minister expects that Peru's copper production will reach 2.9 million tons in 2025, and Peru's copper production will be 2.4 million tons in 2024, which is -0.7%.