Copper is running strongly in the range Market optimism is pervasive

In terms of spot, on January 20, Shanghai electrolytic copper spot reported a premium of 130 ~ 170 yuan / ton
for the contract of the month.
The transaction price of flat water copper is 58980 yuan / ton ~ 59080 yuan / ton, and the transaction price of premium copper is 58990 yuan / ton ~ 59100 yuan / ton
.
In the spot market, there are many sources of circulating goods, the willingness to raise prices is still strong, downstream consumption is weakening, and trading is deadlocked
.

On the demand side, as the most important demand country, China is currently the most effective country in controlling the new crown epidemic
.
Therefore, it is expected that the probability of sustained recovery of domestic economic activity in 2021 is relatively high
.
In addition, the country's 14th Five-Year Plan attaches importance to the new energy sector, and will continue to support the demand for copper varieties
.

In terms of news, Biden's re-signing of the Paris Climate Agreement and joining the World Health Organization, coupled with the favorable expectations of the previous 190 million rescue plan and Yellen's new round of stimulus plan, the market is full of optimism
.
Under the support of favorable expectations, it is expected that the Shanghai copper range will run strongly at night, paying attention to the pressure level of 59,500, and operationally it is recommended that cargo companies be cautious and wait and see, and the downstream just need to stock
.