Peru Approved Southern Copper's Restart of Copper Mine Project, LME Copper and SHFE Copper Both Closed Higher Overnight [SMM Copper Morning Meeting Minutes]
SMM Morning Meeting Minutes: Last Friday evening, LME copper opened at $13,246.5/mt, touched a low of $13,205/mt at the beginning of the session, then fluctuated upward around the center, reached a high of $13,380/mt before staying high and moving sideways, and finally closed at $13,349/mt, up 0.81%, with trading volume at 20,000 lots and open interest at 280,000 lots, down 6,199 lots from the previous trading day, indicating leading contracts reducing positions. Overnight, the most-traded SHFE copper 2606 contract opened at 102,700 yuan/mt, quickly rose to 103,040 yuan/mt at the beginning of the session, then copper prices dropped sharply to 101,830 yuan/mt, before fluctuating upward to finally close at 102,910 yuan/mt, up 0.57%, with trading volume at 64,000 lots and open interest at 185,000 lots, up 8,528 lots from the previous trading day, indicating bulls increasing positions.