January 15 Copper Market Brief Review

On the macro front, U.
S.
jobless claims rose to their highest level in eight weeks in the first week of January due to the pandemic, but remained at levels
consistent with a rapidly tightening labor market.
Initial jobless claims rose by 23,000 in the week ended Jan.
8 to 230,000 seasonally adjusted, the highest level
since mid-November.
After the data, US stocks were generally higher
.
The US dollar fell
against a basket of currencies.
U.
S.
Treasury bonds have risen.

The Labor Department said the final demand producer price index (PPI) rose 0.
2 percent
in December from the previous month.
This is the smallest increase in PPI since November 2020
.

Overall, the U.
S.
index stopped falling and interrupted the rally of Shanghai copper, near the end of the year market confidence actively promoted short-term copper prices, but the overall fundamentals of low inventories brought about by the consumption promotion effect remains limited, the U.
S.
CPI data hit a new high in recent years but PPI growth slowed down, inflation has peaked signals, and the Fed's March interest rate hike expectations have further strengthened
.
At present, the impact on copper prices is still mainly affected by the surrounding market and news, after this round of price rise, low inventory price support is acceptable, intraday pullback shock mainly, pay attention to the 7.
08-71,000 first-line support effect, if the US index does not have a large rebound copper prices can still maintain a high level
.
In terms of operation, the merchant waits and sees to ship a small amount of goods, and the downstream waits and sees, and there is a need to take it
appropriately years ago.