Middle East Geopolitical Risks Compound Rate Hike Expectations, Overnight LME Copper and SHFE Copper Both Closed Lower [SMM Copper Morning Meeting Summary]
![Middle East Geopolitical Risks Compound Rate Hike Expectations, Overnight LME Copper and SHFE Copper Both Closed Lower [SMM Copper Morning Meeting Summary]](https://static.metal.com/common.metal.com/images/header-en/smm-logo.png){kind=logo}
AI Briefing
- LME copper prices closed down 3.09% to $11,834.5/mt, SHFE copper prices closed down 1.26% to 93,540 yuan/mt.
- Increased short positions led to higher open interest and trading volume across both markets.
- Copper prices fluctuated rangebound, with LME prices peaking at $12,158/mt and SHFE prices reaching 94,700 yuan/mt.
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