Data: SHFE, DCE market movement (May 29)

Last Friday evening, LME copper opened at $14,351.5/mt, touched a high of $14,383/mt in early trading, then drifted lower all the way and dipped to $14,214.5/mt near the close. It subsequently drifted higher and settled at $14,285/mt, down 0.15%. Trading volume reached 16,900 lots, and open interest reached 270,000 lots, down 215 lots from the previous trading day, as bulls trimmed positions. Last Friday evening, the most-traded SHFE copper contract opened at 109,200 yuan/mt. It rose to 109,300 yuan/mt amid wild swings in early trading, after which the price center moved straight down to touch a low of 108,150 yuan/mt, before settling at 108,570 yuan/mt, down 0.05%. Trading volume reached 58,000 lots, and open interest reached 215,000 lots, down 1,422 lots from the previous trading day, as bulls trimmed positions.

A respeito da emissão das “Medidas Administrativas para a Reciclagem e Utilização Padronizadas de Recursos Renováveis Industriais na Província de Shandong (Provisórias)” (doravante denominadas “Medidas Administrativas”), o SMM apurou que as Medidas Administrativas implementadas desta vez na Província de Shandong são uma “versão de implementação local” de uma série de requisitos de políticas centrais, mas não constituem uma simples tradução de um único documento central.