Zambia RDA Chipoma 3,000 t/y Hydrometallurgical Plant Launches, Produces High-Quality Cathode Copper

In North China, #1 copper cathode spot prices against the front-month contract ranged from a discount of 460 to 300 yuan/mt, up 20 yuan/mt from the previous trading day. The average transaction price was 101,520 yuan/mt, down 520 yuan/mt from the previous trading day.

SMM Morning Meeting Summary: Overnight, LME copper opened and peaked at $13,390/mt. Subsequently, the center of copper prices gradually shifted downward, reaching a low of $13,072/mt near the end of the session, and finally closed at $13,084.5/mt, with a decline of 1.59%. The trading volume reached 27,800 lots, and the open interest stood at 312,000 lots, a decrease of 3,474 lots from the previous trading day, mainly due to the reduction in long positions. The most-traded SHFE copper 2604 contract opened at 103,320 yuan/mt, initially rising to 103,630 yuan/mt. Thereafter, the price fluctuated downward, hitting a low of 102,250 yuan/mt near the end of the session, and ultimately closed at 102,280 yuan/mt, marking a decline of 1.23%. The trading volume was 69,800 lots, and the open interest was 199,000 lots, a reduction of 979 lots from the previous trading day, also primarily due to the reduction in long positions.