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Morning Comment For SHFE Base Metals On February 2
LME copper prices opened at $8528.5/mt and closed at $8524.5/mt last evening, down 1.06%, with the high-end of $8572/mt and the low-end of $8508.5/mt. Trading volume was 19,000 lots and open interest stood at 283,000 lots. The most active SHFE 2403 copper contract prices opened at 69030 yuan/mt and finished at 68890 yuan/mt last evening, down 0.76%, with the low-end of 68790 yuan/mt and the high-end of 69190 yuan/mt. Trading volume was 22,000 lots, and open interest stood at 146,000 lots. On the macro front, market sentiment was affected by previous statements by Federal Reserve officials, which increased ... (full story)