January 11 Shanghai copper brief commentary

In terms of news, Powell reiterated that the Fed will stop inflation, the US index and US stocks have shown a V-shaped rebound trend, affected by this overnight copper market fell slightly, intraday support 69,000 rebound, after noon touched the pressure level of around 70,000 slipped again, basically flat
.

At present, near the end of the year, there is a downstream stocking trend, superimposed on the domestic low inventory to form a good support for the price, but the off-season effect still affects the fundamental trend momentum is insufficient, the recent copper market is mainly affected by the news and the surrounding market, maintaining a range shock market
.
It is expected that Shanghai copper may continue to pull back overnight, falling into shock sorting near 69,500
.
Operationally, the merchant shipped properly years ago, and the downstream just needed to stock up
.