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January 20 Shanghai copper afternoon review

 Last Update: 2022-12-17
 Source: Internet
 Author: User

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The overnight Shanghai copper 2003 contract closed at 49,060 yuan / ton on Friday, down 0.
55%.

Copper prices fell on Friday night as UK retail sales unexpectedly weaker-than-expected in December, reinforcing concerns about the risk of Brexit in the UK, while crude oil fell for the second week in a row on signs of still ample supply, weighing on copper prices to retreat
.

Shanghai copper

On the macro front, good performance in both the U.
S.
and China on Friday, as well as low interest rates and easing trade tensions, boosted investor optimism
.
Investors' appetite for risky assets improved this week, providing strong support
to copper prices.

In terms of spot, the market entered the week before the Spring Festival, the market traders are gradually decreasing, the current holders have more funds in hand, there is no sign of selling, so the spot quotation continues to be high discount shipments are unlikely to be likely, it is expected that today's discount will show down
.
It is expected that today's Shanghai copper 48950-49250 yuan / ton, spot discount 80-discount 20 yuan / ton
.

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