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January 29 Copper Market Morning Review

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Copper market morning comment: Shanghai copper main Cu2103 volatility weakened in the last trading day, the lowest was 57620, the highest was 58580, closed at 57760, closed down 1.
63%, and rebounded
slightly overnight.
Copper rebounded after bottoming out, with a low of 7705 and closing at 7904, up 0.
78%.

Copper City

In terms of news, the domestic macroeconomic data in 2020 was released, the domestic economy reached the trillion mark, and the GDP growth in the fourth quarter exceeded market expectations, reaching 6.
5%; Biden became the US president, and the market expected further economic stimulus policies from the US government to increase, but there is currently a certain uncertainty, resulting in weakened
support below copper prices.

China's electrolytic copper spot inventory continues to decline, considering that the domestic epidemic is still strictly prevented, with the arrival of the Spring Festival, coupled with the production slowdown caused by cold weather, the downstream receiving sentiment is not high, the market activity is reduced, short-term copper prices are still or mainly volatile
.

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