January 25 copper market afternoon review

In terms of news, the preliminary Markit manufacturing PMI in the United States recorded a record high of 59.
1 in January, with an estimated 56.
5
.
U.
S.
existing home sales totaled 5.
64 million in 2020, the highest annual since
2006.
The preliminary manufacturing PMI for January was 52.
9 versus 53.
6
.
LME: Copper stocks decreased by 3,425 tonnes, aluminum inventories decreased by 2,475 tonnes
.
On Friday, the US economic data sharply exceeded expectations, the dollar rose, the yuan fell sharply, and non-ferrous metals bottomed out and rebounded across the board
.

London copper fell as much as about 2% on Friday before rebounding sharply to close in the negative, closing at $7986, and U.
S.
copper opened
slightly higher today.
After the sharp decline in the daily trading of Shanghai copper, it opened sharply lower in the night session, and the shock rebound closed in the middle of the sun, closing above the 5-day moving average at 59140
.
Shanghai copper trading positions rose slightly, market sentiment tends to be neutral, short-term Shanghai copper stabilized and rebounded at 58000, there is support below, but the economic outlook is uncertain, copper prices in January may continue to fluctuate as a whole, and the market may appear before the Spring Festival in February
.
Shanghai copper upper pressure 60000, lower support 58000
.
Today's international copper premium from Shanghai copper continued to decline slightly to 445 yuan, and the external sentiment was stronger than the internal market
.