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    Home > Chemicals Industry > New Chemical Materials > January 20 Copper Market Brief Review

    January 20 Copper Market Brief Review

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
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    Brief comment on the copper market: Today's copper price rebounded sharply, as of 3 p.
    m.
    the main 2203 contract was reported at 71180 points, up 1180, or 1.
    69%.

    Copper City

    From a fundamental point of view, the plate continues to fluctuate in a narrow range at a high of 70,000 yuan / ton, as the Spring Festival approaches, the downstream without a large number of orders to support, buying interest continues to be suppressed, the market trading initiative began to decline significantly, the sentiment of the holder in the early stage of the sharp rise was suppressed, and the Shanghai copper rose to the bottom of the water; Inventories fell again, most holders were reluctant to ship at low prices, and South China copper rose slightly
    .

    Driven by the sharp rise in surrounding metals Shanghai nickel and Shanghai tin, copper prices exceeded 71,000 in the afternoon, and the market bullish atmosphere heated up
    .
    The fundamentals continue to be light and weak, limiting the upside of copper prices; The technical performance is strong, and the evening will step back to confirm the 71,000 support, but the medium-term pressure level refers to 72,000, and the risk of a high fall in the future increases
    .
    Keep the wait-and-see focus before the upper section, and just need it
    downstream.

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