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Morning Comment For SHFE Base Metals On Mar 25
LME copper prices opened at $8968/mt and closed at $8847/mt last Friday, down 1.30%, with the highest of $8971/mt and the lowest of $8833/mt. The trading volume was 21,000 lots, and open interest stood at 315,000 lots. The most active SHFE 2405 copper contract prices opened at 72180 yuan/mt and finished at 72340 yuan/mt overnight, with the high-end of 72690 yuan/mt and the low-end of 72150 yuan/mt nearby, down 0.25%. The trading volume was 39,000 lots, and open interest stood at 203,000 lots. On the macro front, the president of the Atlanta Federal Reserve Bank spoke against expectations of an interest rate cut. It ... (full story)