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January 21 copper market afternoon review

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Copper market afternoon commentary: European and American stock markets rose to boost market sentiment, overnight London copper shock closed up $48, the global copper market supply shortage, but China's scrap copper imports increased sharply, today's copper material rose little
.

Copper City

In terms of news, the new US President Biden officially took office, announcing that he would stop the construction of the US-Mexico border wall and lift the entry restrictions
of Arab countries.
Treasury Secretary Janet Yellen called for more stimulus to prop up the economy
.
Eurozone CPI rose 0.
3% month-on-month in December; Expected at 0.
3%.

The inauguration of the new US president was positive for market expectations, the dollar fell overnight, and non-ferrous metals generally rose
.

Overnight, copper opened higher and rose slightly to hold on to $8,000 to close at $8,041.
5, and U.
S.
copper opened
slightly higher today.
Shanghai copper opened flat overnight, stabilizing at the 20-day moving average and closing slightly higher, closing at 59140
.
Shanghai copper trading decline position slightly rising, internal confidence is strong, short-term at 58000 stable rebound, there is support below, the overall copper price in January may continue the volatile trend, February before the Spring Festival may appear in the market
.
Shanghai copper upper pressure 60000, lower support 58000
.
Today's international copper premium to Shanghai copper continued to expand sharply to 366 yuan, and the external market has high hopes
for the new US president.

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