January 9 Copper Market Brief Review

On Wednesday, the main contract of Shanghai copper 2003 opened at 48680 yuan / ton in the morning, which opened at a low level, and then rose rapidly to the highest point of the day of 48970 yuan / ton, and then copper prices continued to rush high with insufficient momentum, briefly tested high and quickly fell back until the end of midday; In the afternoon, the center of gravity as a whole fluctuated around 48830-48910 yuan / ton until the close, and closed at 48860 yuan / ton, down 20 yuan / ton, or 0.
04%.

The average price of electrolytic copper in Shanghai is 48660 yuan, down 90, and the price of the month's premium is 30 to 50, down 20
.
During the day, Shanghai's premium performance was weak, and the premium continued to decline, and the price of flat water copper fell from 50 premium at the opening to 30 premium at the lowest; Good copper and wet copper also followed suit, showing some
declines.
Poor downstream purchasing appetite and poor trader sentiment were the main reasons
for the decline in intraday premiums.
Overall, the intraday East China market traded moderately, and the transaction activity decreased
compared with yesterday.
Copper rose 40-50 yuan for the month, down 20; flat water copper premium 30-40 yuan, down 10; Wet copper sticker 60-50 yuan, down 40
.

The average price of electrolytic copper in Foshan in Nanchu: 48640 yuan, down 70, the price of the month's rise: 0 to 40, down 5
.
Shanghai copper retreated, and the wide range of shock adjustments
.
The morning spot market also became less active, and the sentiment of receiving goods weakened
.
The quotation of the holder is higher than yesterday, and the quotation of flat water copper + 30 yuan / ton has been heard, but there are few transactions
.
Subsequently, the transaction price of Pingshui copper in Pingshui, +10 yuan / ton, showed a decline
.
Around ten o'clock, +10 yuan / ton is difficult to trade, the transaction is concentrated in Pingshui, and some traders want to suppress to -10 yuan / ton to receive goods
.
On the whole, the intraday market trading atmosphere weakened, and the trading performance was average
.

Shanghai copper maintained a shock pattern as a whole during the day, and the center of gravity hovered around 48,900 yuan / ton, mainly because the situation between the United States and Iran has deteriorated and escalated, Iran carried out retaliation against the United States in the day, firing a number of rockets at two United States-Iraq joint air bases, and the United States also maintained vigilant actions
.
The heated situation in the United States and Iran led to a sharp increase in market risk aversion, and the CMX gold price soared to $1613 / oz, and copper prices were affected by the weakness of higher prices
.
At present, Shanghai copper closes the doji, the MACD green column continues to lengthen, and the technical situation looks high and the resistance is large
.