January 7 Copper Market Brief Review

On Monday, the main contract of Shanghai copper 2003 opened at 48760 yuan / ton in the morning, and then copper prices rose slightly, and the center of gravity remained stable around 48890 yuan / ton until the end of midday; After briefly stabilizing at 48,900 yuan / ton at the opening in the afternoon, it quickly rose to the highest point of the day of 49,010 yuan / ton, and after the short-term exploration due to insufficient market confidence, it quickly fell back below the 49,000 yuan / ton mark, and gave up all the gains of the day, closing at 48,760 yuan / ton, down 310 yuan / ton, down 0.
63%.

Nanchu Shanghai electrolytic copper average price: 48740 yuan, down 220, the month premium quotation: 50 to 70, up 30, intraday premium quotation jumped up, morning market inquiry positive, but the actual recipient of the goods is few, some merchants are more willing to hold the price, the premium quotation is slightly different, buyers are cautious and wait-and-see, the downstream maintains just need to receive goods, the overall trading of the market is acceptable, and the buying sentiment has rebounded
.
Premiums continue to edge higher
.
Copper rose 70-80 yuan to the month, up 35; Pingshui copper rose 50-60 yuan, up 35; Wet copper sticker 10-10 yuan, up 30
.

The average price of electrolytic copper in Foshan in Nanchu: 48690 yuan, down 210, the monthly discount quotation: -10 to 20, up 35
.
The market activity in the morning opening of the day is low, the willingness to receive goods is weak, and there are relatively few market shipments, and the few prices are about
-20 yuan / ton.
After the market hesitated and stalemated for a period of time, the receiver began to actively participate in the market, -20 yuan / ton ushered in a large number of transactions, and the transaction became hot
.
Near 10 o'clock, there were few holders in the market, -20 yuan / ton of goods were difficult to find, and the holders began to sell
.
Subsequently, the holder adjusted the price to -10 yuan / ton to continue shipments, and the transaction situation remained good
.
In the second quarter, the market circulation of goods decreased significantly, but the receiving sentiment remained unchanged, and the quotation remained at about
-10 yuan / ton.
The price of good copper also rose from 10 yuan / ton to 20 yuan / ton
with the rise of flat water copper within the day.
Overall, intraday market receiving sentiment continued to rise, the trading atmosphere was good, and the premium rebounded
.

The center of gravity of Shanghai copper continued to maintain a stable low level during the day, mainly because the current situation in the United States and Iran has become the leading factor affecting the trend of copper prices, the continued geopolitical tension in the Middle East has increased the global risk aversion, CMX gold has risen to the highest point in 6 years, has broken through 1590 US dollars / ounce, copper and other risk assets have heard the sound lower
.
At the same time, the domestic Caixin service PMI in December was less than expected, which also reduced the market's optimism and lacked strong support
for Shanghai copper.
At present, Shanghai copper has fallen for 5 consecutive days, and has now fallen below the 20-day moving average support level, KDJ opening downward expansion trend has increased, technical performance bearish, waiting for external guidance, test whether Shanghai copper can hold 48700 yuan / ton
.