[SMM Morning Meeting Summary: Copper Prices Maintained Fluctuating Trend Overnight as Market Awaits Further Guidance]
Last Friday evening, LME copper opened at $9,536.5/mt, fluctuated considerably from the beginning to the middle of the session, peaked at $9,567.5/mt near the session's end, then dropped back slightly to a low of $9,497/mt before finally closing at $9,515.5/mt, down by 0.44%. Trading volume reached 18,900 lots, and open interest stood at 292,000 lots.
Last Friday evening, the most-traded SHFE copper 2504 contract opened at 77,350 yuan/mt, initially peaked at 77,700 yuan/mt, fluctuated downward during the session to a low of 77,400 yuan/mt, then rebounded to form a "V-shape," reaching 77,680 yuan/mt near the session's end. It then pulled back slightly and finally closed at 77,630 yuan/mt, up by 0.12%. Trading volume reached 20,000 lots, and open interest stood at 172,000 lots.
