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Systematic buying ignored geopolitical risks, with LME copper futures reaching a three-month high! Copper concentrate TC continues to hit record lows as supply disruption incidents lead to constant downward revisions in supply-side growth, reinforcing the bottom level of copper prices! Click to read more.

BlockBeats News, May 13th - The U.S. Senate voted 51-45 on May 12th to officially confirm Kevin Warsh as a Federal Reserve Board member for a 14-year term. Warsh will succeed the outgoing Miriam. The Senate has initiated the confirmation process for Warsh to simultaneously serve as the Chair of the Fed for a four-year term, and a cloture vote has been held, initiating the countdown. The approval for his leadership role could come as early as Wednesday local time. Current Chair Powell's term ends on Friday.

Under the impact of the Iran conflict, U.S. inflation unexpectedly surged, with April CPI rising 3.8% year-on-year to a nearly three-year high, and core CPI growth expanding to 2.8%. "The New Fed News Agency" commented on April's CPI: Rate cuts are no longer a 2026 story, Waller is in trouble.The U.S. Court of Appeals has suspended the ruling against Trump’s 10% global tariff, meaning tariffs will continue to be imposed.The U.S. Senate has confirmed Waller as a Federal Reserve Governor; the vote to confirm the new Fed Chair could be completed as early as Wednesday.The White House has released the list of 16 American business leaders who will accompany Trump on his visit to China; Jensen Huang will be absent due to not being invited.Iran says preconditions for negotiations with the U.S. are ending the conflict and lifting the blockade. Trump: Not in a hurry to resolve the Iran conflict, will consider war red lines while on the plane, stopping Iran from acquiring nuclear weapons is "only a matter of time".The UK will send fighter jets and warships to join the multinational escort in the Strait of Hormuz.Reports indicate that Iraq and Pakistan have each signed agreements with Iran to transport energy.South Korea's proposal for an "AI national dividend" triggered a stock market plunge of as much as 5%, prompting officials to urgently clarify: it is not a windfall tax on corporations.India has more than doubled import tariffs on gold and silver to 15% in a bid to curb imports and boost the rupee.OpenAI has spent $4 billion to seize the FDE field; the ultimate role for software engineers is on-site deployment.Reports: Anthropic is seeking $30 billion in financing, with valuation approaching $100 billion; Anthropic has launched more than ten legal AI tools, covering contract review to judicial exam preparation.JD.com’s Q1 revenue grew nearly 5% year-on-year, exceeding expectations; adjusted EBITDA profit fell 14% year-on-year yet still beat expectations, and food delivery losses narrowed significantly quarter-on-quarter.Pop Mart expects Q1 revenue to grow by 75% to 80%, with growth slowing in Europe and the U.S., while China's online channel is set to increase by 150%.Unitree has unveiled the world’s first mass-produced manned transforming mech GD01, starting at 3.9 million yuan, with the CEO personally test driving it.