April 24 quotation for scrap copper in Shanghai

SMM Morning Brief: Overnight LME copper opened at $13,452/mt, fluctuated downward in early trading to a low of $13,395/mt, then its price center gradually moved up to reach $13,608.5/mt, before fluctuating downward again to finally close at $13,449/mt, a decline of 0.81%. Trading volume reached 24,800 lots, and open interest stood at 267,000 lots, an increase of 976 lots from the previous trading day, which was characterized by bears adding positions. Overnight, the most-traded SHFE copper 2607 contract opened at 103,500 yuan/mt, dipped in early trading to 103,480 yuan/mt, then fluctuated upward to a high of 104,340 yuan/mt, after which the center of copper prices fluctuated downward, moved sideways near the session's end, and finally closed at 103,650 yuan/mt, a decline of 0.79%. Trading volume reached 39,700 lots, and open interest stood at 157,000 lots, a decrease of 3,255 lots from the previous trading day, which was characterized by bulls reducing positions.

[Orient Cable: Recent Bid-Winning Amount Approximately RMB 5.231 Billion] Orient Cable announced that recently, the company and its wholly-owned subsidiary, Dongfang Offshore Engineering Institute, have successively received relevant bid-winning notices and bid-winning announcements, confirming the company and Dongfang Offshore Engineering Institute as the bidders for the relevant projects. Among them, the bid-winning amount for power engineering and equipment cables is approximately RMB 3.356 billion; the bid-winning amount for new energy power (submarine cables and high-voltage cables) is approximately RMB 1.113 billion; and the bid-winning amount for marine equipment and engineering operation and maintenance projects is approximately RMB 762 million. The combined bid-winning amount of the above projects is approximately RMB 5.231 billion.