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Morning Comment For SHFE Base Metals On Mar 20
LME copper prices opened at $9003/mt and closed with a drop of 1.43% at $8972/mt last evening, with the low-end of $8944/mt and the high-end of $9003/mt. Trading volume stood at 24,000 lots. Open interest stood at 313,000 lots. The most active SHFE 2405 copper contract prices opened at 72420 yuan/mt and finished at 72620 yuan/mt last evening, down 0.89%, with the low-end of 72350 yuan/mt and the high-end of 72750 yuan/mt. Trading volume was 52,000 lots, and open interest stood at 221,000 lots. On the macro front, previous U.S. economic data showed that inflation is still highly sticky, expectations of interest rate ... (full story)