SMM Morning Meeting Summary: Copper Prices Fluctuate Upwards Amid Mixed Market Signals

[SMM Morning Meeting Summary: Copper Prices Fluctuate at High Levels Amid Mixed Signals, Spot Market Continues to Indicate Tightness]

Overnight, LME copper opened at $9,842.5, with price fluctuations during the session, reaching a high of $9,917.0 and a low of $9,837.0, showing an overall fluctuating upward trend. It finally closed at $9,902.0, up $37.5 from the previous close of $9,864.5, an increase of 0.38%. Trading volume reached 15,927 lots, and open interest stood at 290,561 lots.

Overnight, the SHFE copper 2505 contract opened at 80,560 yuan/mt, with price fluctuations during the session, reaching a high of 80,640 yuan/mt and a low of 80,220 yuan/mt, showing an overall fluctuating trend. It finally closed at 80,550 yuan/mt, up 200 yuan from the previous value, an increase of 0.25%. Trading volume was 32,138 lots, and open interest reached 231,245 lots.