There has been some position-squaring before the Easter holidays.

Risks that have been supporting the market remain unresolved, and China's strong demand will have impact on the market fundamentals.

Losing Iran supplies will have a massive impact on the market, and there is no way that other Middle East producers are going to be able to make up for that loss.

Prices will remain volatile for a while, but I don't think copper will fall repeatedly as the long-term trend for the metal is still considered to be bullish.

The only news will be the U.S. stocks. But on the geopolitical front, the upside risk is more than the downside.

The market has been volatile recently and overall falls in commodities, including oil, dragged down copper.