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Morning Comment For SHFE Base Metals On May 16
LME copper prices opened at $10321/mt and closed at $10282/mt in last evening trading, a gain of 2.05%, with the low-end of $10124/mt and the high-end of $10335/mt. Trading volume was 44,000 lots, and open interest stood at 337,000 lots. The most active SHFE 2407 copper contract prices opened at 82370 yuan/mt and finished at 82100 yuan/mt last evening, up 0.21%, with the low-end of 81270 yuan/mt and the end of 82880 yuan/mt. Trading volume was 95,000 lots, and open interest stood at 200,000 lots. On the macro level, the US CPI data for April showed that inflation resumed its downward trend and retail sales were ... (full story)