SMM

[SMM Morning Meeting Summary: Copper Prices Maintained Fluctuating Trend Overnight as Market Awaits Further Guidance] Overnight, LME copper opened at $9,490.5/mt, initially rose to an intraday high of $9,531/mt, then declined to a low of $9,474/mt. Towards the end of the session, the center lifted but later returned to lower levels, finally closing at $9,502/mt, down by 0.14%. Trading volume reached 16,000 lots, and open interest stood at 291,000 lots. Overnight, the most-traded SHFE copper 2504 contract opened at 77,360 yuan/mt, initially touched a high of 77,580 yuan/mt, fluctuated downward during the session to a low of 77,160 yuan/mt, and maintained rangebound movement towards the end, finally closing at 77,300 yuan/mt, down by 0.15%. Trading volume reached 24,000 lots, and open interest stood at 173,000 lots.