BC copper slightly fell by 0.07% during the day, testing around the middle Bollinger Band. [[SMM BC Copper Commentary]]

Today, the most-traded BC copper 2506 contract opened at 68,470 yuan/mt and closed with a positive candlestick, indicating an increase in long positions. The most-traded BC copper 06 contract fluctuated during the day. In the morning session, after a surge, the futures market pulled back and touched a low of 68,460 yuan/mt, before halting the decline and rebounding above the daily average line. Before the midday break, bulls exerted pressure, pushing copper prices up to an intraday high of 69,260 yuan/mt. In the afternoon, the futures market pulled back from highs and fluctuated until closing at 68,870 yuan/mt, down 50 yuan/mt or 0.07%. Open interest reached 2,733 lots, an increase of 288 lots from the previous trading day, and trading volume amounted to 5,669 lots.

The most-traded SHFE copper 2506 contract closed at 77,600 yuan/mt. Based on the BC copper 2506 contract price of 68,870 yuan/mt, its after-tax price is approximately 77,823 yuan/mt. The price spread between the SHFE copper 2506 contract and the BC copper 2506 contract was -223 yuan/mt, maintaining an inversion and narrowing compared to the previous trading day.