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Base Metals Closed Mostly With Gains On Expectations For A Pause In US Interest Rate Hike
LME copper prices closed at $8,247.5/mt last Friday evening, up 0.19%. Trading volume was 21,000 lots and open interest stood at 253,000 lots. SHFE 2307 copper contract finished at 66,130 yuan/mt last Friday evening, up 0.33%. Trading volume was 47,000 lots, and open interest stood at 183,000 lots. On the macro front, the US data released last Friday showed a surge in non-farm employment in May. The market expected the Fed to continue to raise interest rates in July. The focus will turn to the CPI data in May which will determine the path of interest rate hikes in June. On fundamentals, as of June 2, SMM copper ... (full story)