Three Canadian Mining Projects Enter Fast Track, LME Copper Extended Losses Overnight [SMM Copper Morning Meeting Minutes]
SMM Morning Meeting Minutes: LME copper opened at $12,967/mt overnight, hitting an early high of $12,984/mt before copper prices fluctuated downward, touching a low of $12,804/mt near the close and finally settling at $12,901/mt, down 0.76%. Trading volume reached 12,000 lots, down 4,963 lots from the previous session, while open interest stood at 318,000 lots, up 327 lots from the previous session, primarily driven by increased bear positions. The most-traded SHFE copper contract was closed overnight due to the Chinese New Year holiday.