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    Home > Chemicals Industry > New Chemical Materials > January 8 Copper Market Afternoon Review

    January 8 Copper Market Afternoon Review

    • Last Update: 2022-12-20
    • Source: Internet
    • Author: User
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    Copper market afternoon comment: U.
    S.
    infrastructure construction spending expectations are optimistic, overnight London copper closed up $99 to an eight-year high, concentrate supply may remain tight, global inventories are at historic lows, copper is rising
    today.

    Copper City

    US ISM non-manufacturing index for December 57.
    2 vs 54.
    5 expected vs 55.
    9
    prior.
    U.
    S.
    jobless claims for the week ended Jan.
    2 were 78.
    7 prior, 80 expected, and 78.
    7
    were announced.
    The US presidential election is officially over, Trump promised a smooth transfer of power on the 20th, and macro uncertainty has subsided
    significantly.
    Overnight, U.
    S.
    economic and employment data exceeded expectations, markets expected more stimulus packages from the new president, and non-ferrous metals rose
    across the board.

    Overnight, London copper rose sharply to close at a new high of $8182, and U.
    S.
    copper opened
    flat today.
    Shanghai copper opened low overnight, rose sharply after stepping back to the 5-day moving average, closed Changyang hit a new high of 60,000 points, closed at 60130.
    Shanghai copper trading positions are rising, market sentiment is optimistic
    .
    Yesterday's RMB fell sharply, Shanghai copper is stronger than London copper, the overall technical form is better, the medium term is still expected to continue to rise, the upper pressure is 62000, the lower support 58500
    .
    Today's international copper premium shrank to 382 yuan
    compared with Shanghai copper.

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