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Trading continued to be suspended overnight
.
Copper prices retreated on Friday night, mainly due to ongoing concerns about public health events, while US consumer spending appeared to slow further in January, triggering concerns about whether the economy can continue to expand moderately, U.
S.
stocks ended their rally, while market risk aversion drove both the dollar index and gold higher, putting significant pressure
on copper prices.
In terms of fundamentals, most domestic copper processing enterprises have resumed work, but the operating rate is still at a low level, last week's inventory increased by 56,484 tons, downstream copper consumption is still weak, this week continue to pay attention to the resumption of
domestic logistics and production enterprises.
At present, Shanghai copper closed negative, supported by the 5-day moving average below, and is expected to remain volatile
today.
In terms of spot, today entered the delivery period, according to last Friday's spot quotations, deliverable brand goods still have considerable profit margins, will continue to lead the rise, quotations closer to the delivery level
.
It is expected that today's Shanghai copper 45800-46100 yuan / ton, spot quotation premium 20-liter 50 yuan / ton
.
