January 8 Copper Market Brief Review

On Tuesday, the main contract of Shanghai copper 2003 opened at 48,870 yuan / ton in the morning, and then immediately rushed up to the 49,000 yuan / ton mark, but the long and short sides faced the battle for the pass, continued to rush high and hesitated, and then fell slightly back to the center of gravity hovering around 48910 yuan / ton oscillation, in the afternoon bulls continued to test the 49,000 yuan / ton mark, the center of gravity was stable around 48,950 yuan / ton, until the end of the session slightly higher, closing at 49010 yuan / ton, up 200 yuan / ton, or 0.
41
。

The average price of electrolytic copper in Shanghai is 48750 yuan, up 10, and the price of the month's premium is 50 to 70, flat
.
Holders still hold the willingness to hold up prices, and the flat water copper premium in the morning was reported at 60 yuan / ton, with few transactions, and the price was quickly lowered; Affected by the decline in the price of flat water copper, the price of copper premium is 70 yuan / ton
.
The intraday premium generally maintained yesterday's performance, the trading parties were slightly tug-of-war, and the market transaction was worse
than yesterday.
Copper premium to the current month premium 60-70 yuan, down 10; flat water copper premium 40-50 yuan, down 10; Wet copper sticker 20-10 yuan, down 15
.

The average price of electrolytic copper in Foshan in Nanchu: 48710 yuan, up 20, the price of the month's discount: 10 to 40, up 20
.
The supply of goods in the early opening market of the day is still low, and traders and holders are clearly hesitant
.
In the morning, the holders wanted to raise the price, and the quotations were all around +20 yuan / ton, but due to the low receiving sentiment, the transaction price was slightly lower than the quotation, and the price was about
+10 yuan / ton.
Good copper quotation is in the first line of +50, +60 yuan / ton, but the transaction situation is very bad, and the transaction price is about
+40 yuan / ton.
In the second quarter, the market rebounded slightly, and the trading price of flat water copper was +10 yuan / ton
.
Overall, the market receiving sentiment continues to pick up the trend, and the premium continues to rise
.

The center of gravity of Shanghai copper moved slightly upward during the day, mainly due to the situation in the Middle East, Iran did not immediately take retaliatory actions, market nervousness eased, CMX gold prices also fell, coupled with the UK PMI and Eurozone confidence index performance exceeded expectations, macro expectations have an optimistic recovery, dual factors are favorable to copper prices center of gravity slightly upward
.
However, due to Iranian Foreign Minister Zarif's confirmation of the visa to the United States and other incidents, it is still necessary to be vigilant about the follow-up risks
of the US-Iran situation.