Bulls enter the market, BC copper closes positive with a 1.49% increase [SMM BC Copper Commentary]

Today, the most-traded BC copper 2506 contract opened at 69,110 yuan/mt and closed higher during the day, showing an increase in long positions. During the night session, the most-traded BC copper contract opened lower and climbed higher, with the price center continuing to rise. After the day session opened, the price center moved slightly lower, then surged rapidly in the afternoon, reaching a high of 70,260 yuan/mt. It closed at 70,130 yuan/mt, up 1,030 yuan/mt from the previous close, representing a 1.49% increase. Open interest reached 2,471 lots, an increase of 166 lots from the previous trading day, and trading volume reached 16,871 lots.

The most-traded SHFE copper 2506 contract closed at 78,940 yuan/mt. If calculated based on the most-traded BC copper 2506 contract price of 70,130 yuan/mt, its after-tax price would be approximately 79,247 yuan/mt. The price spread between the most-traded SHFE copper 2506 contract and the most-traded BC copper 2506 contract was -307 yuan/mt, maintaining an inversion and widening compared to the previous trading day.