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Morning Comment For SHFE Base Metals On July 10
Overnight, LME copper opened at $9,927/mt, initially reaching a high of $9,952/mt before declining, hitting a low of $9,819/mt near the end of the trading session, and finally closed at $9,875/mt, down 0.22%, with a trading volume of 14,000 lots and an open interest of 329,000 lots. Overnight, the most-traded SHFE copper 2408 contract opened at 80,260 yuan/mt, initially reaching a high of 80,320 yuan/mt before consolidating and then declining to a low of 79,600 yuan/mt, and finally closed at 79,890 yuan/mt, down 0.56%, with a trading volume of 43,000 lots and an open interest of 197,000 lots. Macro-wise, Fed Chairman ... (full story)