SMM

LME copper closed at $8,080.5/mt in overnight trading, a drop of 0.76%. Trading volume was 20,000 lots and open interest stood at 255,000 lots. The most active SHFE 2307 copper contract finished at 64,320 yuan/mt, down 0.57%. Trading volume was 57,000 lots and open interest stood at 194,000 lots. On the macro front, the lack of progress in talks to raise the U.S. debt ceiling dampened the market's risk appetite and raised concerns.