January 13 copper market morning review

Overnight, London copper opened high and rose sharply, closing up nearly 2% in Zhongyang to close at $7998.
5, and U.
S.
copper opened
slightly lower today.
Shanghai copper opened slightly higher in the night session, rushed back down to close the doji, closing near the 20-day moving average at 58740.
Shanghai copper trading fell and positions rose, and market sentiment improved
.
There is support around 58,000 below Shanghai copper, but there is no clear news about the US stimulus policy, and copper prices are expected to continue to fluctuate in January, with upper pressure of 60,000 and lower support of 57,500
.
Today's international copper premium compared with Shanghai copper fell slightly to 223 yuan, and the internal trend was obviously stronger
.

The domestic epidemic is still under strict prevention, causing market worries, and considering the Spring Festival and the possible slowdown in production caused by cold weather, demand may shrink
to a certain extent in the short term.
Macroeconomic data continues to improve, manufacturing PMIs in China and the United States are good, and the United States is expected
to introduce further stimulus policies in the future.
The Ministry of Commerce plans to boost commodity consumption, and the automotive (especially new energy vehicles) and home appliances sectors may give a certain boost to demand
.
At present, copper inventories are still at a low level, copper mine supply is still tight, and the long-term trend of copper prices remains unchanged, but in the short term, due to the impact of the epidemic, copper prices may have greater uncertainty
.