End of Strike at Chilean Copper Mine, LME Copper and SHFE Copper Rebounded in Sync Overnight [SMM Copper Morning Meeting Minutes]
SMM Morning Meeting Minutes: On Friday evening, LME copper opened at $12,857.5/mt, fluctuated downward initially to touch a low of $12,817/mt, then fluctuated upward with copper prices gradually rising to a high of $13,065/mt, before consolidating and finally closing at $13,060/mt, up 1.59%, with trading volume reaching 25,600 lots and open interest at 325,000 lots, overall showing an increase in bulls' positions. On Friday evening, the most-traded SHFE copper contract 2603 opened at 101,000 yuan/mt, fluctuated downward initially to touch a low of 100,340 yuan/mt, then rose straight upward to a high of 101,820 yuan/mt, before fluctuating rangebound and finally closing at 101,490 yuan/mt, up 1.49%, with trading volume reaching 79,400 lots and open interest at 170,000 lots, overall showing a decrease in bears' positions.