January 11 Copper Market Brief Review

On Friday, the main contract of Shanghai copper 2003 opened at 48880 yuan / ton in the morning, and the center of gravity remained stable around 48900 yuan / ton after the opening, until the end of the midday session, and the morning disk fluctuation range was small; The afternoon opening was strong, and they entered the market one after another, and the market continued to rise above the 49,000 yuan / ton mark, and closed at 49,010 yuan / ton at the end of the session, up 30 yuan / ton, or 0.
06%.

The average price of electrolytic copper in Shanghai in the South Reserve: 48580 yuan, down 220, the monthly discount quotation: -70 to -60, down 60
.
There are fewer market shipments, the quotation is not active, the morning holders try to raise the price on the day, but the market receives few goods, and then the seller lowers the price of shipments, to the close before the flat water reported to -80 yuan, most traders cautiously wait and see to welcome the annual holiday, downstream receipt is limited, the transaction performance is not as good as the previous day
.
Premiums copper to the current month sticker 60-50 yuan, down 60; flat water copper sticker 80-70 yuan, down 60; Wet copper sticker 170 - 160 yuan, down 50
.

The average price of electrolytic copper in Foshan in Nanchu: 48690 yuan, down 150, the monthly discount quotation: 0 to 70, up 5
.
The morning market quotation still maintains the previous day's quotation, flat water copper is near Pingshui, the willingness to receive goods is also good, there is a small number of -10 yuan / ton dump goods in the morning, low-priced sources of goods have been difficult to find in the market before ten o'clock; Around ten o'clock, some holders wanted to raise the price to +10 yuan / ton to ship, but the market response was not good, and the mainstream transaction price remained at Pingshui
.
Near delivery, good copper quotations continued to rise from the previous day, +70, +80 yuan / ton or so
.
In the second quarter, market trading almost stagnated, few traders entered the market, and Pingshui copper quotations once again showed discounts, but the market has been difficult to receive.

Overall, the intraday trading atmosphere continues to weaken, and trading companies will start holidays next week, and trading may decline further
.

The center of gravity of Shanghai copper moved slightly upward during the day, mainly because the market was optimistic about the US non-farm payrolls under the favorable US ADP data, boosting the market's confidence in the macroeconomy, and Shanghai copper returned above the 49,000 yuan / ton mark
.
At present, Shanghai copper closed positive and stood above the 5-day moving average, the KDJ indicator golden cross is favorable, and the technical situation slightly supports copper prices
.
In the evening, we will continue to wait for the guidance of non-farm payrolls data to test whether Shanghai copper can continue to stand at the 49,000 yuan / ton mark
.