SMM Morning Comments (Nov 23): Shanghai base metals were mostly higher as investors watch for coronavirus developments

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,402.6/mt. In early trading, it fluctuated downward to a low of $12,334.5/mt. Subsequently, the center of copper prices gradually moved higher, rising to $12,482.5/mt near the close, and finally closed at $12,472.6/mt, up 0.73%. Trading volume reached 24,900 lots, and open interest stood at 291,200 lots, down 7,698 lots from the previous trading day, mainly due to bears reducing positions. Overnight, the most-traded SHFE copper 2605 contract opened at 96,300 yuan/mt. In early trading, it fluctuated downward to 96,210 yuan/mt. Subsequently, the center of copper prices fluctuated upward, touching a high of 96,970 yuan/mt near the close, with a gain of 0.45%. Trading volume reached 40,900 lots, and open interest stood at 183,400 lots, down 2,869 lots from the previous trading day, mainly due to bears reducing positions.

[Buletin Tembaga SMM] Menurut laporan harian waran tembaga SHFE, waran berjangka tembaga terus mengalir keluar sebesar 8.368 mt pada hari itu, dengan arus keluar terbesar di Shanghai sebesar 3.640 mt, disusul Guangdong 2.926 mt dan Jiangsu 1.902 mt. Seiring persediaan sosial terus menurun, premi spot di berbagai wilayah pada dasarnya berhenti turun dan berbalik naik.

Tabel berikut menunjukkan pergerakan logam besi dan nonbesi di SHFE dan DCE pada 01 Apr 2026