January 10 Copper Market Afternoon Review

China's GDP for the whole year of 2021 exceeded 10 billion yuan
for the second consecutive year.
U.
S.
nonfarm payrolls rose by 199,000 in December to an estimated 450,000 versus 210,000
in the previous month.
The U.
S.
unemployment rate fell to 3.
9 percent in December, the biggest increase since April, up 4.
7 percent
from a year earlier.
Eurozone preliminary CPI rose 5% year-on-year in December; Analysts expected a 4.
8%
increase.
On Friday, the US non-farm payrolls data was sharply lower than expected, the Fed's tightening expectations fell sharply, the dollar tumbled, and non-ferrous metals rebounded
across the board.

On Friday, London copper opened low and high, rose to close in the sun, and today U.
S.
copper opened
slightly lower.
Shanghai copper opened low and closed high in the middle of the night, closing at 692850
.
Shanghai copper trading positions are declining, and market sentiment is biased towards wait-and-see
.
There are many macro data recently, but the overall bias is neutral, and the spot market is cold, and copper prices remain range-bound
in the medium term.
Shanghai copper upper pressure 71500, lower support 67000
.
Today's international copper premium compared with Shanghai copper rose sharply to 582 points, and the external trend was stronger than the internal market
.