SHANGHAI, May 19 (SMM) – LME copper prices closed at $8,158.5/mt last evening, down 1.8%. Trading volume was 15,000 lots and open interest stood at 256,000 lots. SHFE 2306 copper contract finished at 65,190 yuan/mt last evening, down 0.62%. Trading volume was 34,000 lots, and open interest stood at 153,000 lots.

On the macro front, the United States announced solid economic data, further reducing market bets on the Fed's easing policy. In addition, the US dollar index rebounded on expectations that the United States will reach a debt ceiling agreement to avoid a potential default.

In terms of fundamentals, as cargoes under warrants have not been offered for sale after delivery in the Shanghai market on Thursday, the supply of available goods in the market was extremely tight. Spot quotes rise. Consumption in south China improved even as copper prices rebounded. The market needs to pay attention to whether the inflow of imported copper can alleviate the tight spot supply. In terms of price, although the debt ceiling issue of the United States has eased, the market is still worried about the financial market. With weak fundamental support, copper prices are expected to continue to remain low.

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