SHANGHAI, Feb 10 (SMM) – LME copper prices closed at $9,000.5/mt in overnight trading, a gain of 0.89%. Trading volume was 15,000 lots and open interest stood at 253,000 lots. SHFE 2303 copper contract finished at 68,520 yuan/mt overnight, up 0.06%. Trading volume was 29,000 lots, and open interest stood at 153,000 lots.
On the macro front, the market expects that U.S. inflation has been kept in check, and the Fed will slow down interest rate hikes. In terms of fundamentals, Guangdong's inventory has fallen sharply for three consecutive days, mainly due to the slight decrease in the arrivals and the active replenishment of downstream buyers. The downstream consumption has gradually picked up. But high copper prices will have a greater impact on the full recovery of consumption. With the recovery of domestic demand, it is expected that copper prices will remain relatively strong in the next few days.
![[Flash | Chile's Mining Production Index Falls 7.2% YoY in July; Metallic Mining Down 10.7%]](https://imgqn.smm.cn/usercenter/bFzkj20251217171724.jpg)
