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SMM Morning Comment For SHFE Base Metals November 17
LME copper prices opened at $8312.5/mt and closed at $8241/mt in overnight trading, a decline of 0.43%, with the low-end of $8212/mt and the high-end of $8309/mt. Trading volume was 22,000 lots, and open interest stood at 260,000 lots. The most active SHFE 2312 copper contract prices opened at 67870 yuan/mt and closed at 67600 yuan/mt last evening, down 0.32%, with the high-end of 68020 yuan/mt and the low-end of 67500 yuan/mt. Trading volumes stood at 25,000 lots and open interest stood at 135,000 lots. On the macro front, initial jobless claims in the United States exceeded expectations last week, rising to ... (full story)