SMM Morning Meeting: Trump's Tariff Probe on Copper Amid Chile's Power Crisis Impacts Copper Prices

[SMM Morning Meeting Summary: Trump Launches Tariff Investigation on Copper Amid Chile's Worst Power Crisis in Nearly a Decade]

Overnight, LME copper opened at $9,509/mt, initially reaching a high of $9,530/mt before fluctuating downward to a low. After a slight rebound near the session's end, it continued to pull back, touching a low of $9,411.5/mt and finally closing at $9,423/mt, up by 0.3%. Trading volume reached 22,000 lots, and open interest stood at 296,000 lots.

Overnight, the most-traded SHFE copper 2504 contract opened at 77,310 yuan/mt, initially hitting a high of 77,350 yuan/mt before fluctuating downward to an intraday low of 76,900 yuan/mt. By the session's end, it rebounded slightly and finally closed at 77,100 yuan/mt, down by 0.1%. Trading volume reached 29,000 lots, and open interest stood at 165,000 lots.