Kazakhstan Copper Production Declined, LME Copper and SHFE Copper Both Closed Lower Overnight, January-April [SMM Copper Morning Meeting Minutes]
SMM Morning Meeting Summary: Last Friday, LME copper opened at $13,609.5/mt, touched a high of $13,661.5/mt in early trading, then the price center gradually shifted lower to $13,467.5/mt, and finally moved sideways to close at $13,544.5/mt, down 3.15%, with trading volume at 34,000 lots and open interest at 281,000 lots, an increase of 3,469 lots from the previous trading day, indicating bears adding positions. Last Friday evening, the most-traded SHFE copper 2606 contract opened at 104,050 yuan/mt, dipped to 103,810 yuan/mt in early trading, then the price center shifted slightly higher to touch 104,760 yuan/mt, and finally moved sideways to close at 104,440 yuan/mt, down 0.26%, with trading volume at 38,000 lots and open interest at 167,000 lots, a decrease of 3,793 lots from the previous trading day, indicating bulls reducing positions.