**SMM Morning Meeting Minutes: Strengthening Dollar Index Puts Pressure on Copper Prices**
On November 11, spot 1# electrolytic copper was reported at a discount of RMB 20 yuan/ton to a premium of RMB 40 yuan/ton against the November 2023 futures contract (2411 contract), with the average price reported at a premium of RMB 10 yuan/ton, up by RMB 10 yuan/ton from the previous week. According to SMM statistics, domestic inventories continued to decline this week, with the rate of inventory reduction marginally increasing. Yesterday, the difference in spot premiums between Shanghai and Guangdong continued to widen, and it is expected that subsequent arrivals of domestically produced supplies will decrease...
