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Morning Comment For SHFE Base Metals On May 10
LME copper prices opened at $9875/mt and closed at $9950/mt overnight, up 0.48%, with the lowest of $9854.5/mt. Trading volume was 19,000 lots, and open interest stood at 333,000 lots. The most active SHFE 2407 copper contract prices opened at 79940 yuan/mt and finished at 80100 yuan/mt last evening, up 0.21%, with the low-end of 79740 yuan/mt and the high-end of 80190 yuan/mt. Trading volume was 30,000 lots, and open interest stood at 176,000 lots. On the macro level, the number of initial jobless claims in the United States for the week ending May 4 was 231,000, the highest since August 2023. The cooling of the ... (full story)