["[Copper Prices Rise Amid Volatility, but Upside Potential is Limited Amid US-UK Trade Deal Optimism]: On the macro side, Trump announced a trade deal with the UK, raising hopes for similar agreements with other countries. Meanwhile, in the week ending May 3, the number of initial jobless claims in the US fell by 13,000 to 228,000. After the central bank maintained interest rates on Wednesday, Powell stated that despite potential increases in unemployment and inflation due to tariffs, the labour market remained robust, and copper prices continued to increase slightly.", "On the fundamental side, supply side, as the delivery date approached, spot arbitrageurs actively sold their holdings due to the widening price spread between futures contracts. However, with the continuous decline in inventory in the Shanghai area, overall supply remained tight, providing some support for spot premiums. On the demand side, although there was some procurement sentiment in the morning, it was mainly driven by just-in-time procurement from some downstream sectors. Overall market activity was moderate, with no large-scale procurement activities observed. As of May 8, inventory in the Shanghai area decreased by 3,200 mt from Tuesday to 86,400 mt. The continuous decline in inventory supported spot premiums. However, factors such as the widening price spread between futures contracts and the approaching delivery date are expected to constrain spot premiums, which may continue to fall tomorrow. On