Bears reduce positions, BC copper posts three-day winning streak [[SMM BC Copper Commentary]]

Today, the international copper 2505 contract opened at 69,150 yuan/mt, closing the day with a positive candlestick, indicating a reduction in short positions. Today, BC copper maintained a stable trend, hitting a daily low of 68,840 yuan/mt. It rallied towards the end of the day and closed at the daily high of 69,380 yuan/mt, up 0.46%, with a trading volume of 1,476 lots and an open interest of 2,385 lots, a decrease of 176 lots from the previous trading day.

The SHFE copper 2505 contract closed at 77,830 yuan/mt. If calculated based on the international copper 2505 contract price of 69,380 yuan/mt, its after-tax price would be approximately 78,499 yuan/mt. The price spread between the SHFE copper 2505 contract and the international copper 2505 contract was -669 yuan/mt, with the spread remaining inverted and widening compared to the previous trading day.