January 29 copper market afternoon review

In terms of news, the US GDP growth rate for the whole year of 2020 recorded -3.
5%, the first negative value
since 2009.
The preliminary annualized rate of real GDP in the United States for the fourth quarter was 4%, compared with 33.
40% in the previous month and 4%
expected.
The preliminary U.
S.
real personal consumption expenditures q-q came out at 2.
5% q/q vs 41% prior, and 3.
1%
expected.
The number of initial jobless claims in the United States last week was 847,000, compared with an estimate of 875,000 and the previous figure of 900,000
.
Eurozone Industrial Climate Index -5.
9 for January, prior: -6.
8, expected: -7.
2
.
Overnight, European and American economic and employment data were slightly higher than expected, the dollar fell slightly, the yuan soared, non-ferrous metals fluctuated sharply, and overnight trading rose
.

After a sharp fall overnight, London copper quickly rebounded and turned red overnight, closing at $7904, and U.
S.
copper opened
slightly lower today.
After the Shanghai copper daily plunge, the night session opened low and turned high, rose to close in Zhongyang, closing at 58150
.
Shanghai copper trading rose and positions fell slightly, market sentiment tended to be neutral, due to the uncertain economic outlook, short-term copper prices are still weak, follow-up attention to whether the stocking market around the Spring Festival can be started
.
Shanghai copper has an upper pressure of 58800 and a lower support of the 60-day moving average of 57000
.
Today's international copper premium compared with Shanghai copper continued to fall sharply to 328 yuan, and the optimism of the external market weakened
.