LME and SHFE Copper Prices Rise Slightly Amid Volatile Trading

Published: Oct 17, 2024 09:07

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Overnight, LME copper opened at USD 9,631 per ton, experiencing minor fluctuations at the beginning of the session and reaching a high of USD 9,637 per ton. Throughout the session, it fluctuated downwards, touching a low of USD 9,553.5 per ton towards the end. However, it closed slightly higher at USD 9,591 per ton, marking a 0.75% increase. Trading volume reached 16,000 lots, with open interest standing at 278,000 lots. Meanwhile, the main SHFE copper contract 2411 opened at RMB 76,920 per ton overnight, immediately reaching a high of RMB 77,150 per ton at the beginning of the session. It then fluctuated slightly downwards, touching a low of RMB 76,630 per ton towards the end. The contract closed with a slight rebound at RMB 76,870 per ton, registering a 0.39% increase. Trading volume amounted to 22,000 lots, while open interest stood at 142,000 lots.

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