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Morning Comment For SHFE Base Metals On June 5
Overnight, LME copper opened at $10,004.8/mt, peaked at $10,024.5/mt during early trading, then dipped to a session low of $9,914/mt at the end of the trading session, and finally closed at $9,933.5/mt with open interest at 343,000 lots. Overnight, the most-traded SHFE copper contract opened at ¥80,960/mt, peaked at ¥81,060/mt during early trading, then maintained slight fluctuations throughout, hitting a session low of ¥80,320/mt, and finally closed at ¥80,500/mt, down by 1.9%. Trading volume was 82,000 lots and open interest was 181,000 lots. On the macro front, the US non-farm payrolls data is about to be ... (full story)