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Morning Comment For SHFE Base Metals January 9
LME copper opened at $8,396/mt on Monday, rose all the way at the beginning and during the session, touching $8,461.5/mt, and then consolidated sideways at the end of the session, finally closing at $8,437/mt, with open interest reaching 276,000 lots. SHFE 2402 copper contract opened at 68090 yuan/mt overnight, with its session low and high at 67930 yuan/mt and 68250 yuan/mt before closing down 0.16% at 68130 yuan/mt. Open interest stood at 123,000 lots. On the macro front, the U.S. non-farm payrolls and wage growth in December exceeded expectations. This reduced the possibility of the Federal Reserve cutting ... (full story)