The center of BC copper prices fell during the day, closing lower for two consecutive days [SMM BC Copper Commentary]

Today, the most-traded BC copper 2506 contract opened at 69,390 yuan/mt and closed bearish within the day, trading between the upper and middle Bollinger Bands. During the night session, the most-traded BC copper contract fluctuated downward at the beginning of the session, hitting a low of 69,190 yuan/mt before rebounding. It reached an intraday high of 69,780 yuan/mt during the night. During the day session, the center of copper prices continued to move lower, eventually closing at 69,350 yuan/mt, down 290 yuan/mt or 0.42%. Open interest reached 1,930 lots, a decrease of 109 lots from the previous trading day, and trading volume reached 4,187 lots.

The SHFE copper 2506 contract closed at 78,140 yuan/mt. If calculated based on the BC copper 2506 contract price of 69,350 yuan/mt, its after-tax price would be approximately 78,366 yuan/mt. The price spread between the SHFE copper 2506 contract and the BC copper 2506 contract was -226 yuan/mt, maintaining an inversion and narrowing compared to the previous trading day.