April 7 quotation of scrap copper in Guangdong

SMM Morning Meeting Minutes: Overnight, LME copper opened at $14,320/mt and hit an early high of $14,343/mt. Copper prices then saw their center move lower and dipped to $14,122/mt, before ultimately moving sideways to close at $14,130.5/mt, down 0.3%. Trading volume reached 24,000 lots, and open interest reached 270,000 lots, an increase of 904 lots from the previous trading day, indicating bears added positions. Overnight, the most-traded SHFE copper 2609 contract opened at 108,840 yuan/mt and hit an early high of 108,860 yuan/mt. Copper prices then saw their center fall straight down and hit bottom at 107,740 yuan/mt, before ultimately moving sideways to close at 108,070 yuan/mt, down 0.84%. Trading volume reached 52,500 lots, and open interest reached 199,000 lots, a decrease of 11,525 lots from the previous trading day, indicating bulls reduced positions.