January 10 Copper Market Brief Review

Thursday Shanghai copper main contract 2003 morning opened at 48990 yuan / ton, then rose to 49070 yuan / ton reached the highest point of the day, a short high after a rapid fall, as of the end of the afternoon low has tested to 48920 yuan / ton, the afternoon opening continued to rise to near the daily moving average, but the upward momentum is insufficient, then continue to fall to 48850 yuan / ton intraday low, the end of the session slightly pulled up and closed at 48960 yuan / ton, up 150 yuan / ton, or 0.
31%.

The average price of electrolytic copper in Shanghai in the South Reserve: 48800 yuan, up 145, the monthly discount quotation: -10 to 0, down 45
.
Continuing yesterday's weak atmosphere, the morning trader inquiry activity is not high, the morning market is cold, the activity is very low, the trading atmosphere is quiet, the morning market premium quotation flat water copper about 20 yuan / ton, good copper in about 30 yuan / ton, the overall atmosphere of the day continues to weaken, the transaction situation is not good, the market stalemate is still seen, the overall situation is slightly worse
than the previous day.
Copper rose to the flat water of the month 0-10 yuan, down 40; flat water copper sticker 20-10 yuan, down 50; Wet copper sticker 120-110 yuan, down 60
.

The average price of electrolytic copper in Foshan in Nanchu: 48840 yuan, up 200, the price of the month's premium: 0 to 60, up 10
.
The basis of the Shanghai copper plate widened during the day, reaching a maximum of 120 yuan / ton, stimulating some traders to receive goods sentiment up, earlier flat water copper + 10 yuan / ton quotation has a certain transaction
.
However, around ten o'clock, the mainstream quotation of flat water copper has been lowered to flat water, and it is difficult to trade
+10 yuan / ton.
During the second trading session, some traders have sought discounted sources in the market
.
The trading price of good copper has risen to a certain extent, +60 yuan / ton is the mainstream transaction price
.
The overall receiving sentiment of the intraday market remained at a low level, and flat water copper showed a downward trend, but close to delivery, good copper quotations have rebounded
.

Shanghai copper overall oscillated around the daily moving average during the day, and the center of gravity moved slightly upward compared with yesterday, mainly because Trump's speech on Wednesday defused tensions with Iran, and the situation in the United States and Iran cooled down, resulting in safe-haven assets gold and crude oil slipping, ending an 11-day streak of market gains, giving risk assets breathing space, and Shanghai copper was able to maintain stability around
48,900 yuan / ton.