January 24 Copper Market Afternoon Review

Department of Commerce: Eliminating tariffs is in the fundamental interests
of consumers and producers in China and the United States.
U.
S.
jobless claims unexpectedly rose to 286,000 last week, the highest since October 2021, and were estimated at 225,000 versus 230,000
in the previous month.
Eurozone CPI ended at 5.
0% in December, a new high
since 1991.
U.
S.
employment has been severely affected by the epidemic, and the market expects that the Fed may not rush to raise interest rates, and the sharp rise in nickel has led to a collective surge in non-ferrous metals
.
However, the dollar rebounded and turned higher after falling overnight, and opened lower today
.

Overnight, London copper opened high and rose to close Changyang, and U.
S.
copper opened
low today.
Shanghai copper opened high and rose to close in Zhongyang at 71740 overnight, and may open lower with the outside market today
.
Shanghai copper trading declined, positions rose, and market sentiment was more optimistic
.
The macro fundamentals are biased towards neutrality, and the stock of enterprises before the Spring Festival is gradually expanding, and the copper price is slightly stronger in the short term, and the volatile market may continue in the medium term
.
Shanghai copper upper pressure 72500, lower support 68000
.
Today's international copper edged up to 467 points compared with Shanghai copper, and the external trend was stronger than the internal market
.