[SMM SHFE Copper Closing Update] In early trading, SHFE copper briefly surged to a high of 80,160 yuan/mt before starting to decline, falling to 79,860 yuan/mt by the end of the first session. It then fluctuated within the range of 79,920–79,960 yuan/mt. During the afternoon session, futures briefly tested a low of 79,840 yuan/mt before stabilizing, and climbed to 79,980 yuan/mt toward the close, ultimately settling at 79,930 yuan/mt, down 200 yuan/mt. Daily open interest decreased by 12,389 lots. The intermonth price spread ranged from backwardation of 10–30 yuan/mt. The import profit margin for the current-month SHFE copper contract widened to a loss of 500 yuan/mt.