February 1 Copper Market Afternoon Review

On the news front, China's official manufacturing PMI for January: 51.
3; expected: 51.
6; prior: 51.
9
.
The US Chicago PMI for January was 63.
8, 58.
7 in the previous month and 58.
5
expected.
Germany's January seasonally adjusted unemployment was -4.
1 (10,000), -3.
7 prior, 0.
6
expected.
The United States said it would reassess trade deals with countries and a new round of fiscal stimulus is still under discussion
.
The US easing policy has not yet been officially introduced, the dollar has risen, the trend of non-ferrous metals has diverged, copper and lead have risen, and aluminum and zinc have fallen
.
China's January manufacturing PMI fell slightly over the weekend, but remained in a strong range above 51, and market expectations were neutral
.

On Friday, London copper rushed back down and turned lower to close at $7813.
5, and U.
S.
copper opened
slightly lower today.
After the Shanghai copper fell in the daily session, it opened higher overnight, rushed back down to close the small black candle, and closed at 57770
.
Shanghai copper trading positions fell slightly, market sentiment tends to be conservative, due to the uncertainty of the economic outlook and US stimulus policies, short-term copper prices are still weak and may continue to adjust
.
Follow up to pay attention to whether the stocking market can be started
before and after the Spring Festival.
Shanghai copper has an upper pressure of 58800 and a lower support of the 60-day moving average of 57000
.
Today's international copper premium compared with Shanghai copper has expanded sharply to 470 yuan, and the internal sentiment is weak
.