SMM

LME copper prices closed at $8,409/mt overnight, a gain of 0.32%. Trading volume was 19,000 lots and open interest stood at 285,000 lots. The most active SHFE 2309 copper contract prices finished at 68,390 yuan/mt overnight, up 0.29%. Trading volume was 30,000 lots, and open interest stood at 169,000 lots. Domestic consumer prices dipped 0.3% year-on-year in July, but up 0.2% from June. The ex-factory prices of industrial producers fell 4.4% year-on-year and 0.2% month-on-month.