Barrick Mining's Copper-Gold Project Plans to Start Production in 2028; Overnight, Both LME Copper and SHFE Copper Closed Lower [SMM Copper Morning Meeting Summary]
SMM Morning Meeting Summary: Overnight, LME copper opened at $12,286.5/mt and fluctuated downward in early trading to a low of $12,212/mt. Copper prices then fluctuated upward, with the center moving up to $12,408/mt, before falling back again to finally close at $12,348.5/mt, down 0.99%. Trading volume reached 20,000 lots, and open interest stood at 295,000 lots, an increase of 3,702 lots from the previous trading day. Overnight, the most-traded SHFE copper 2605 contract opened at 95,660 yuan/mt and dipped to 95,300 yuan/mt in early trading. Copper prices then fluctuated upward, with the center moving up to a high of 96,680 yuan/mt, before fluctuating downward to finally close at 96,150 yuan/mt, down 0.08%. Trading volume reached 36,500 lots, and open interest stood at 181,000 lots, a decrease of 1,608 lots from the previous trading day, mainly due to bulls reducing positions.