Zambia Is Expected to Triple Copper Production by 2031; Overnight, Both LME Copper and SHFE Copper Closed Lower [SMM Copper Morning Meeting Summary]
SMM Morning Briefing: Overnight, LME copper opened at $12,999/mt, then its center moved downward to a low of $12,930/mt. It then fluctuated upward to a high of $13,083/mt, and finally closed at $13,049/mt, down 0.36%. Trading volume reached 17,000 lots, down 4,532 lots from the previous trading day; open interest stood at 303,000 lots, down 358 lots from the previous trading day, mainly reflecting long position reductions overall. Overnight, the most-traded SHFE copper 2604 contract opened at 100,100 yuan/mt and hit a low of 100,100 yuan/mt at the open. Its center then rose to a high of 101,430 yuan/mt, and it finally closed at 101,310 yuan/mt, down 0.22%. Trading volume reached 34,000 lots, down 42,000 lots from the previous trading day; open interest stood at 191,000 lots, down 1,386 lots from the previous trading day, mainly reflecting short position reductions overall.
![Zambia Is Expected to Triple Copper Production by 2031; Overnight, Both LME Copper and SHFE Copper Closed Lower [SMM Copper Morning Meeting Summary]](https://imgqn.smm.cn/usercenter/HhNHP20251217171708.jpg)
![BC Copper Fluctuated and Closed Slightly Lower, Macro Sentiment Awaited the CPI Release [SMM BC Copper Commentary]](https://imgqn.smm.cn/usercenter/YIaMU20251217171711.jpg)
