SMM Morning Meeting Minutes: Overnight, LME copper opened at $13,240.5/mt, fluctuated upward to a high of $13,295/mt in early trading, then the copper price center dropped sharply to $13,182.5/mt, followed by wild swings, and finally closed at $13,242/mt, down 0.26%, with trading volume at 17,000 lots and open interest at 287,000 lots, a decrease of 2,451 lots from the previous trading day, indicating bulls reducing positions. Overnight, the most-traded SHFE copper 2606 contract opened at 102,350 yuan/mt, rose to 102,510 yuan/mt in early trading, then the copper price center dropped sharply to 101,700 yuan/mt, before fluctuating upward to finally close at 102,290 yuan/mt, down 0.09%, with trading volume at 28,500 lots and open interest at 174,000 lots, an increase of 820 lots from the previous trading day, indicating bears adding positions.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,865/mt, dipping to $12,859/mt early in the session. The price center then gradually shifted upward in a volatile manner, touching a high of $13,133/mt near the end of the session, and ultimately closed at $13,123.5/mt, up 2.07%, with trading volume at 27,000 lots and open interest at 292,000 lots, down 1,540 lots from the previous trading day, indicating bears reducing positions. Overnight, the most-traded SHFE copper 2605 contract opened at 99,760 yuan/mt, touching a low of 99,520 yuan/mt early in the session. Copper prices then gradually shifted upward, reaching 100,940 yuan/mt, before moving sideways and ultimately closing at 100,820 yuan/mt, up 1.67%, with trading volume at 50,000 lots and open interest at 170,000 lots, down 1,518 lots from the previous trading day, indicating bears reducing positions.

SMM Morning Meeting Minutes: Last Friday evening, LME copper opened at $12,744/mt, dipping to $12,642/mt early in the session. The price center then fluctuated upward to a high of $12,928/mt before fluctuating downward to finally close at $12,857/mt, up 1.27%, with trading volume at 22,000 lots and open interest at 293,000 lots, down 4,028 lots from the previous trading day, indicating bears reducing positions. Last Friday evening, the most-traded SHFE copper 2605 contract opened at 99,200 yuan/mt, fluctuated upward early in the session to reach 99,750 yuan/mt, then the price center gradually shifted lower to a low of 99,090 yuan/mt, followed by wild swings before finally closing at 99,310 yuan/mt, up 1.04%, with trading volume at 45,000 lots and open interest at 171,700 lots, down 2,724 lots from the previous trading day, indicating bears reducing positions.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,579.5/mt, touching a low of $12,536.5/mt early in the session. Copper prices then shifted higher, reaching a high of $12,712/mt before ultimately closing at $12,695.5/mt, down 0.27%, with trading volume at 18,000 lots and open interest at 297,000 lots, an increase of 3,404 lots from the previous trading day, mainly driven by bears adding positions. Overnight, the most-traded SHFE copper 2605 contract opened at 98,080 yuan/mt, touching a high of 97,820 yuan/mt early in the session and a low of 97,720 yuan/mt early in the session. Copper prices then shifted higher, reaching a high of 98,260 yuan/mt before ultimately closing at 98,070 yuan/mt, up 0.27%, with trading volume at 22,000 lots and open interest at 174,000 lots, a decrease of 1,255 lots from the previous trading day, mainly driven by bears reducing positions.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,264.5/mt. After testing a low of $12,282.5/mt in early trading, its center fluctuated downward, nearing the close and hitting a low of $12,079/mt, before finally closing at $12,120/mt, down 1.33. Trading volume reached 18,000 lots, open interest stood at 296,000 lots, an increase of 326 lots from the previous trading day, mainly reflecting bears adding positions overall. Overnight, the most-traded SHFE copper 2605 contract opened at 95,350 yuan/mt, tested a low of 95,900 yuan/mt in early trading, and then its center moved lower to a low of 94,950 yuan/mt, before finally closing at 95,150 yuan/mt, down 0.45. Trading volume reached 39,000 lots, open interest stood at 188,000 lots, a decrease of 2,104 lots from the previous trading day, mainly reflecting bulls reducing positions overall.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,724.5/mt. In early trading, it fluctuated upward to a high of $12,829.5/mt, after which the center of copper prices shifted straight downward to a low of $12,721/mt. It then fluctuated upward in a pullback and finally closed at $12,780/mt, down 1.07%. Trading volume reached 17,000 lots, and open interest stood at 293,000 lots, down 8,255 lots from the previous trading day, mainly due to longs reducing positions. Overnight, the most-traded SHFE copper 2604 contract opened at 99,120 yuan/mt. In early trading, it rose to 99,530 yuan/mt, then fluctuated downward all the way to a low of 98,900 yuan/mt. Afterwards, the center of copper prices moved upward and finally closed at 99,140 yuan/mt, down 0.92%. Trading volume reached 27,700 lots, and open interest stood at 177,000 lots, down 1,993 lots from the previous trading day, mainly due to longs reducing positions.