With the continued weakening of the US dollar, copper prices rebounded strongly

In the external market, driven by the weakening of the US dollar, non-ferrous metals collectively strengthened
.
During the Asian session, London copper opened at 7155.
5 US dollars / ton, opened slightly retraced to 7129.
5 US dollars / ton, the following 20-day line support appeared, copper prices soared, climbed to 7155.
5 US dollars / ton, but failed to stand, and then entered the European market, the US dollar rose slightly, copper prices fell back to 7136 US dollars / ton, as of 17:39, London copper reported 7149 US dollars / ton
.
On the market, a long white candlestick keeps London copper above all moving averages, the continued weakness of the US dollar is positive for copper prices, and the strong rally after the plunge shows bullish expectations
in the market.

In terms of the market, Shanghai copper rose overnight to above 53500 yuan / ton, the Shanghai ratio continued to decline to 7.
53 a line, imported copper losses intensified, value preservation tray was trapped, holders helpless top discount, morning market quotation discount 50 ~ 20 yuan / ton, because of the light transaction, some traders began to loosen the quotation in the discount 70 ~ 40 yuan / ton, the second trading session, and then reduced to the discount 80 ~ 50 yuan / ton, after 11 o'clock, has heard the quotation discount 90 ~ 60 yuan / ton, good copper and flat water copper price difference to maintain a stable 20 ~ 30 yuan / ton, wet copper has been discounted more than
100 yuan / ton.
Following the concentrated buying of the previous day, the downstream of the day died down, waiting to see the changes, traders in the face of fierce volatility copper futures also temporarily cautiously waited and waited, waiting for the trend to become clear, the market trading is weak and quiet
.
During the afternoon trading session, the market continued to rise, and it was more difficult for high prices to stimulate downstream buying, and holders had no choice but to expand their discounts, but the transaction still did not improve, and the trading was very light
.

In terms of stocks, COMEX copper stocks 219759 short tons as of January 24, down 233 tons from January 23; LME copper stocks were 276675 t, up 28,600 tonnes from Jan.
23; As of January 25, SSE futures inventories were 49,131 tons, down 959 tons
from the previous day.

Chilean copper miner Antofagasta reported on Wednesday that copper production in the fourth quarter of 2017 fell 1.
3 percent from the previous quarter to 177,800 tonnes
.
The company's copper production in 2017 was 704,300 tonnes, down 0.
7%
from the previous year.
Costs are expected to increase due to
a decline in quarterly output.
Antofagasta said copper production expectations for 2018 remain at 705,000-740,000 tonnes
.

On the whole, with the help of the continued weakening of the US dollar, the collective rebound of non-ferrous metals, the lower band of Shanghai copper Bollinger support is obvious, copper prices rebounded strongly, completely filling the gap of the previous day, at present, bulls enter the market with a large number of dips, Shanghai copper 52500-53000 yuan / ton strong support area, but short-term is not recommended to continue to chase higher, 54000 yuan / ton above the pressure, can buy the right amount of bargain
.