[Joint production reduction proposal boosts copper prices, copper prices expected to run at high levels]
On the macro side, according to SMM, the CSPT group held a quarterly general manager's office meeting for the first quarter of 2024 in Shanghai yesterday morning. The CSPT group once again proposed joint production reduction, suggesting a reduction of 5-10%. This news once again pushed copper prices higher. Additionally, influenced by OPEC+ production limits and US procurement, crude oil prices rose, driving copper prices...

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