December 17 copper market noon review

China's electricity consumption in November increased by 3.
1% year-on-year and 13.
6%
from the same period in 2019.
The US preliminary Markit manufacturing PMI for December was 57.
8, 58.
5 expected, and 58.
3
previously.
Eurozone preliminary manufacturing PMI for December was 58 vs 57.
8 expected and 58.
4
prior.
The UK preliminary manufacturing PMI for December was 57.
6 vs 57.
6 expected and 58.
1
previously.
Overnight, the US manufacturing PMI was less than expected, the European manufacturing PMI exceeded expectations, the dollar fell sharply, the euro rose, and non-ferrous metals rose
sharply across the board.

The Las Bambas copper mine agreement in Peru is difficult to reach, and Minmetals Resources announced that it will stop production
on the 18th.
Overnight, copper opened high and rose to close Changyang, and today U.
S.
copper opened
slightly lower.
Shanghai copper opened sharply higher in the night session, and the shock closed in the small sun, closing at 69200.

Shanghai copper trading is stable, positions are slightly reduced, and market sentiment is biased towards
neutrality.
The short-term retaliatory rebound of copper prices has returned to around 70,000 points, and the medium-term may continue the previous range-bound market
.
Shanghai copper upper pressure 71000, lower support 67000
.
Today's international copper premium from Shanghai copper rose to 297 points, returning to normal levels
.