November 25 Copper Market Afternoon Review

China: Accelerate the reform of the science and technology system and build a unified national electricity market system
.
U.
S.
GDP for the third quarter was revised to 2.
1% annualized versus 2.
2% expected and 2%
preliminary.
US Durable Goods Orders for October Preliminary MoM: -0.
5%; Expected: 0.
2%; Previous value: -0.
3%.

Initial jobless claims fell to 199,000 last week, the lowest since
1969.
Overnight, U.
S.
economic data fell short of expectations, and the dollar soared to new highs
.
But Indonesia said it would gradually ban ore exports in the next few years, and non-ferrous metals rose
across the board.

Overnight, London copper opened high and rose to close in the sun, and U.
S.
copper opened
slightly lower today.
Shanghai copper opened sharply higher overnight, rushed back to close Xiaoyang, closed at 71730.
Shanghai copper trading positions are rising, market sentiment is optimistic
.
Global macro fundamentals have improved slightly, copper prices are strong in the short term, and range-bound
volatility may continue in the medium term.
Shanghai copper upper pressure 75000, lower support 67000
.
Today's international copper premium compared with Shanghai copper rose sharply to 895 points, and the external trend was significantly stronger than the internal market
.