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Morning Comment For SHFE Base Metals On June 12
Overnight, LME copper opened at $9,693.5/mt, initially dropped to $9,680/mt, then fluctuated upwards, hitting a high of $9,816.5/mt during the session, and finally fluctuated widely to close at $9,805/mt, with a drop of 0.77%. Trading volume rose to 25,000 lots, and open interest stood at 332,000 lots. Overnight, the most-traded SHFE copper contract (2407) opened at 79,390 yuan/mt, initially hit a high of 79,700 yuan/mt, then fluctuated downwards to a low of 79,130 yuan/mt, hovered sideways during the session, and rebounded at the end to close at 79,530 yuan/mt, with a drop of 0.7%. Trading volume rose to 44,000 ... (full story)