SMM Morning Meeting Highlights: U.S. Core PCE Surpasses Forecasts, Driving Overnight Copper Prices Down

**SMM Morning Meeting Minutes: U.S. Core PCE Exceeds Expectations, Overnight Copper Prices Decline**

On October 31, spot prices for 1# electrolytic copper were reported at a discount of RMB 50 yuan/ton to a premium of RMB 20 yuan/ton against the October 2023 futures contract (code 2411), with an average price at a discount of RMB 15 yuan/ton, up RMB 20 yuan/ton from the previous trading day. On the last trading day of October, overall market trading sentiment was relatively weak. Some downstream buyers, expecting an increase in premiums, took advantage of lower prices to replenish their inventories...