The year 2020 is bound to be a very unsettled year. Affected by the severe epidemic situation in China and even in the world, under the pressure of worrying about the great impact on the economy, U.S. stocks experienced four unprecedented meltdowns, index and oil price drops in a short period of time, while the copper market did not escape a huge drop. Despite the rescue of the markets by various countries, LME copper fell to a low of 4,371 U.S. dollars in March from about 6,100 dollars before the Spring Festival in a short period of about two months due to worries about the impact of demand. The range of decline was more than 1,700 U.S. dollars, while domestic copper futures also fell more than 11,000 yuan/ton from 48,650 on the 22nd before the holiday to a low of 37,450 on the 19th of March. In the spot market, the stock of copper in Guangdong alone hit a new high of more than 100,000 tons in March due to lack of consumption and showed sufficient supply, while recycled copper and brass were affected by the shortage of supply and high prices due to blocked recovery. However, the unlimited narrowing of the gap with copper and the trade under the lack of consumption power were also affected to some extent. Combined with the above-mentioned situation and the pressure of the subsequent global epidemic, although copper attracted short-term rebound of funds due to its low level, there is still great pressure in the general direction.