SMM Morning Meeting Summary: Overnight, LME copper opened at $12,402.6/mt. In early trading, it fluctuated downward to a low of $12,334.5/mt. Subsequently, the center of copper prices gradually moved higher, rising to $12,482.5/mt near the close, and finally closed at $12,472.6/mt, up 0.73%. Trading volume reached 24,900 lots, and open interest stood at 291,200 lots, down 7,698 lots from the previous trading day, mainly due to bears reducing positions. Overnight, the most-traded SHFE copper 2605 contract opened at 96,300 yuan/mt. In early trading, it fluctuated downward to 96,210 yuan/mt. Subsequently, the center of copper prices fluctuated upward, touching a high of 96,970 yuan/mt near the close, with a gain of 0.45%. Trading volume reached 40,900 lots, and open interest stood at 183,400 lots, down 2,869 lots from the previous trading day, mainly due to bears reducing positions.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,216/mt and dipped to $12,181.5/mt in early trading. Copper prices then fluctuated upward in center and, near the close, touched a high of $12,420/mt, finally closing at $12,382.5/mt, up 1.64%. Trading volume reached 18,800 lots, and open interest stood at 298,900 lots, an increase of 3,875 lots from the previous trading day. Overnight, the most-traded SHFE copper 2605 contract opened at 95,730 yuan/mt and fluctuated rangebound in early trading, hitting a low of 95,550 yuan/mt. It then fluctuated upward all the way to a high of 96,780 yuan/mt, finally closing at 96,760 yuan/mt, up 1.26%. Trading volume reached 56,200 lots, and open interest stood at 186,300 lots, an increase of 598 lots from the previous trading day, mainly driven by increased long positions.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,223/mt. In early trading, it saw wide swings and climbed to $12,278/mt. Subsequently, the center of copper prices moved straight downward to a low of $12,153.5/mt, before fluctuating widely again and finally closing at $12,195/mt, up 0.44. Trading volume reached 15,300 lots, and open interest stood at 295,000 lots, down 454 lots from the previous trading day. Overnight, the most-traded SHFE copper 2605 contract opened at 96,100 yuan/mt and hit a high of 96,240 yuan/mt in early trading. Subsequently, the center of copper prices gradually moved lower to 95,210 yuan/mt, before fluctuating rangebound and finally closing at 95,350 yuan/mt, down 0.05. Trading volume reached 36,500 lots, and open interest stood at 183,000 lots, down 2,394 lots from the previous trading day, mainly due to bulls reducing positions.

SMM Morning Meeting Summary: Last Friday night, LME copper opened at $12,157.5/mt and dipped to $12,106/mt at the start of the session, then fluctuated upward to $12,246.5/mt. Later, the center of copper prices gradually moved lower and finally closed at $12,141/mt, up 0.17%, with trading volume at 15,500 lots and open interest at 295,000 lots, down 991 lots from the previous trading day. Last Friday night, the most-traded SHFE copper 2605 contract opened at 95,080 yuan/mt and touched a low of 95,040 yuan/mt at the start of the session, then the center of copper prices gradually moved higher to 95,880 yuan/mt. Later, it fluctuated downward and finally closed at 95,490 yuan/mt, down 0.22%, with trading volume at 42,900 lots and open interest at 185,500 lots, down 1,897 lots from the previous trading day, mainly due to long liquidation.

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 $12,016.5/mt. After dipping to $11,955.5/mt in early trading, its center rose sharply to a high of $12,160/mt, and then continued to hover at highs, finally closing at $12,092.5/mt, down 1.05%. Trading volume reached 23,000 lots, open interest stood at 293,000 lots, up 406 lots from the previous trading day, mainly reflecting increased short positions overall. Overnight, the most-traded SHFE copper 2605 contract opened at 93,600 yuan/mt and touched a low of 93,480 yuan/mt at the open. Its center then moved higher to a high of 94,990 yuan/mt, after which copper prices maintained a fluctuating trend at highs, finally closing at 94,670 yuan/mt, up 0.17%. Trading volume reached 51,000 lots, open interest stood at 198,000 lots, down 533 lots from the previous trading day, mainly reflecting reduced short positions throughout the day.