On the macro front, as Trump attempted to remove Fed Governor Cook, stating he already had a replacement in mind and openly declaring that he would soon have a majority on the Fed, this sparked market worries over central bank independence. The US dollar index pulled back but remained above 98 overall. Overnight, copper prices initially dropped before rebounding. Additionally, Trump indicated that high tariffs on items like furniture would be introduced soon, increasing trade uncertainties and capping gains in copper prices. Fundamentally, from the supply side, there was a slight replenishment of high-quality copper, with registered SX-EW being scarce, leading to a tight spot supply. On the demand side, influenced by fluctuating copper prices at highs, downstream purchasing sentiment continued to be suppressed. In terms of pricing, boosted by tariffs, potential disruptions to Russian oil supplies, and concerns over US Fed independence, which bolstered risk-averse sentiment, it is expected that copper prices will encounter resistance today.