Today, the most-traded BC copper 2506 contract opened at 68,970 yuan/mt and closed in the red, showing a reduction in long positions. Overnight, the most-traded BC copper contract fluctuated considerably below the daily average line. After opening during the day, it continued to rise, with the price center lifting to touch a high of 69,320 yuan/mt. Subsequently, the futures market turned bearish, and it continued to decline in the afternoon, eventually closing at 68,650 yuan/mt, down 540 yuan/mt or 0.78%. Open interest reached 2,736 lots, a decrease of 377 lots from the previous trading day, and trading volume amounted to 8,348 lots.
The SHFE copper 2506 contract closed at 77,330 yuan/mt. If calculated based on the BC copper 2506 contract price of 68,650 yuan/mt, its after-tax price would be approximately 77,575 yuan/mt. The price spread between the SHFE copper 2506 contract and the BC copper 2506 contract was -245 yuan/mt, maintaining an inversion and narrowing compared to the previous trading day.
