Overnight, SHFE copper broke through the 82,000 yuan/mt mark, with strong fundamental support [SMM Copper Futures Review]

SMM March 25 news:

Macro side, the domestic economy continued its mild recovery. Infrastructure investment from January to February saw a YoY growth rate of 9.95%. Manufacturing investment grew by 9.0%. The YoY decline in real estate sales narrowed to 5.1%. However, affected by the US's 20% tariff increase, the YoY growth rate of exports in the first two months pulled back to 2.3%. Overseas, expectations for US Fed interest rate cuts fluctuated, and economic data showed mediocre performance.

SHFE copper 2505 contract opened higher last night, testing 82,110 yuan/mt, then pulled back to the support level of 81,500 yuan/mt in the afternoon before rebounding, closing at 81,910 yuan/mt, up 950 yuan/mt, a gain of 1.7%, with a trading volume of 116,243 contracts and a daily position reduction of 1,162 contracts.

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