Global Copper Cathode Surplus in January; Overnight LME Copper and SHFE Copper Both Closed Lower [SMM Copper Morning Meeting Summary]

AI Briefing

• – Global copper market experiences surplus in January, LME and SHFE copper close lower.
• – LME copper falls 1.33% to $12,120/mt, SHFE copper down 0.45% to 95,150 yuan/mt.
• – Bears add positions, bulls reduce holdings, with LME open interest up and SHFE open interest down.