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US economic resilience strengthens rate hike expectations, copper prices consolidate under pressure [SMM Copper Morning Meeting Summary]

SMM Morning Meeting Summary: LME copper opened at $14,350/mt, hit a high of $14,491/mt, a low of $14,278/mt, and closed at $14,352/mt, down 0. 96%. Trading volume was 20,000 lots, and open interest was 262,000 lots, down 881 lots from the previous trading day, indicating long liquidation. The most-traded SHFE copper 2612 contract opened at 108,160 yuan/mt, hit a high of 108,650 yuan/mt, a low of 107,960 yuan/mt, and closed at 108,410 yuan/mt, down 0. 23%. Trading volume was 35,000 lots, and open interest was 188,000 lots, down 3,066 lots from the previous trading day, indicating long liquidation.

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