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Morning Comment For SHFE Base Metals On May 8
Overnight, LME copper prices opened at $9,953/mt and fell to $9,951.5/mt, but then rose to $10,118/mt before closing at $10,009.5/mt, up 0.96%. Trading volume was 27,000 lots and open interest stood at 334,000 lots. Overnight, the most-traded SHFE 2406 copper contract opened at 80,520 yuan/mt, with its session low and high at 80,420 yuan/mt and 80,890 yuan/mt before closing at 80,760 yuan/mt, up 0.38%. Trading volume was 33,000 lots and open interest stood at 183,000 lots. On the macro level, Federal Reserve officials have been hawkish, saying they will raise interest rates if necessary, but more likely they will ... (full story)
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- Posted: May 7, 2024 10:45pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 168
