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Morning Comment For SHFE Base Metals On May 14
LME copper prices opened at $10118/mt and closed at $10206/mt in last evening trading, a gain of 1.65%, with the low-end of $10091/mt and the high-end of $10206/mt. Trading volume was 22,000 lots, and open interest stood at 341,000 lots. The most active SHFE 2407 copper contract prices opened at 81750 yuan/mt and finished at 82230 yuan/mt overnight, up 1.61%, with the low-end of 81650 yuan/mt and the high-end of 82320 yuan/mt. Trading volume was 38,000 lots and open interest stood at 195,000 lots. On the macro level, the domestic Ministry of Finance issued ultra-long-term government bonds, which provided a positive ... (full story)