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Morning Comment For SHFE Base Metals December 7
LME copper prices opened at $8389/mt and closed at $8250/mt last evening, a drop of 1.13%, with the low-end of $8238/mt and the high-end of $8422/mt. Trading volume stood at 23,000 lots, and open interest stood at 282,000 lots. The most active SHFE 2401 copper contract prices opened at 68050 yuan/mt and closed at 67200 yuan/mt last evening, down 0.77%, with the high-end of 68190 yuan/mt and the low-end of 67200 yuan/mt. Trading volumes stood at 29,000 lots and open interest stood at 149,000 lots. On the macro front, ADP employment in the US in November recorded 103,000, compared to the expected 130,000. This ... (full story)