Copper Prices Went Up As Market Awaiting US Inflation Data, to Move at Lows amid Lingering Banking Crisis
- Mei 09, 2023, at 11:00 am
The LME market was closed yesterday. The most active SHFE 2306 copper contract finished at 67,640 yuan/mt overnight, up 0.91%. Trading volume was 23,000 lots, and open interest stood at 182,000 lots. On the macro front, the dollar inched higher against a basket of currencies yesterday, shrugging off earlier weakness, as the market shifted attention from an unsurprising survey of lending conditions to other economic data that could provide new clues for the Federal Reserve's rate hike path.