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Morning Comment For SHFE Base Metals December 27
The LME was closed due to the Christmas Day holidays. The most active SHFE 2402 copper contract prices opened at 69230 yuan/mt and finished at 69020 yuan/mt last evening, down 0.25%, with the low-end of 68970 yuan/mt and the high-end of 69400 yuan/mt. Trading volume was 30,000 lots, and open interest stood at 154,000 lots. On the macro front, there was a lack of relevant data during the overseas Christmas holidays, and Shanghai copper fell against the background of a light market in the last week of the year. In terms of fundamentals, from the supply side, the supply of goods that can be circulated in the market in ... (full story)