Comment on the spot Trading Day of scrap Copper on January 21

SMM January 21 news: Shanghai Copper main 1903 contract early market opened at 48040 yuan / ton, closed at 47800 yuan / ton. Shanghai copper continued to rebound upward test 48000 yuan / ton. Spot report today discount 30 yuan / ton-liter 40 yuan / ton, the market supply is abundant, when the high shipper is numerous and receives the goods few, the early quotation because of the lack of response, difficult to close the transaction, the holder shipping cash willingness to appear strong collective adjustment. The second section of the transaction stage, some holders lead actively dump goods, downstream fear of high buying downturn, wet copper discount to about 100 yuan. Disk rally suppressed most of the buying, downstream fear of high and gradually entered the spring mode, trade speculation space narrowed performance cautious, active buying is very few, the market is still pre-holiday inventory to avoid risk conversion sentiment.