Copper - LME copper opened at $9,174.5/mt overnight, initially reaching a high of $9,174.5/mt, then touching a low of $9,050/mt at the end of the trading session, and finally closed at $9,050.5/mt, down 1.16%. Trading volume reached 22,000 lots, and open interest reached 297,000 lots. The most-traded SHFE 2409 copper contract opened at 74,800 yuan/mt overnight, initially reaching a high of 74,800 yuan/mt, then touching a low of 74,130 yuan/mt at the end of the trading session, and finally closed at 74,180 yuan/mt, down 0.88%. Trading volume reached 56,000 lots, and open interest reached 182,000 lots.
Aluminum - Market: The most-traded SHFE 2409 aluminum contract opened at 19,350 yuan/mt overnight, reaching a high of 19,360 yuan/mt and a low of 19,255 yuan/mt, and closed at 19,270 yuan/mt, down 50 yuan/mt, a decrease of 0.26%. The previous trading day, LME aluminum opened at $2,296/mt, reached a high of $2,320.5/mt and a low of $2,286/mt, and closed at $2,295/mt, down $2.5/mt, a decrease of 0.15%.
Lead - Overnight, LME lead opened at $2,058/mt. After several consecutive days of decline, LME lead cash-to-three-month contango narrowed to -$24.38/mt, and the downward trend also slowed down. LME lead fluctuated between $2,050-2,070/mt. However, during the night session, LME lead saw an expanded decline, reaching a low of $2,035.5/mt, once again hitting the lowest level since April 3, 2024, and eventually closed at $2,038.5/mt, down 0.75%, marking an eight-day drop. Overnight, lead warrant inventory decreased. The most-traded SHFE 2409 lead contract opened at 19,180 yuan/mt. However, the impact of the expected domestic lead ingot supply resumption continued to ferment. SHFE lead showed a trend of moving downwards after a higher opening, falling below 19,000 yuan/mt again, eventually closing at 18,945 yuan/mt, down 0.13%. The open interest rose to 123,000 lots, an increase of 1,220 lots compared to the previous trading day.
Zinc - Overnight, LME zinc opened at $2,696/mt. Initially, longs reduced positions, causing LME zinc to fluctuate downward around $2,675/mt. During European trading hours, shorts reduced positions, leading LME zinc to quickly rise and peak at $2,718/mt. However, due to insufficient upward momentum, it dipped to $2,670.5/mt during the night session and eventually closed lower at $2,674.5/mt, down $28/mt or 1.04%. Trading volume reduced to 11,751 lots, and open interest decreased by 681 lots to 219,000 lots. Overnight, the most-traded SHFE zinc 2409 contract opened at 23,050 yuan/mt. Initially, SHFE zinc briefly touched 23,075 yuan/mt, but then shorts increased positions, causing SHFE zinc to fluctuate downward, hitting a low of 22,825 yuan/mt. It eventually closed lower at 22,830 yuan/mt, down 210 yuan/mt or 0.91%. Trading volume reduced to 69,027 lots, and open interest increased by 3,694 lots to 98,687 lots.
Nickel - On July 24, Jinchuan nickel was quoted at a premium of 1,800-2,000 yuan/mt, with an average of 1,900 yuan/mt, flat compared to the previous trading day. Norilsk nickel was quoted at a discount of 50 yuan/mt to a premium of 100 yuan/mt, with an average premium of 25 yuan/mt, down 75 yuan/mt from the previous trading day.
Tin - Yesterday, the night session of the most-traded SHFE tin contract closed at 249,520 yuan/mt, up 1,760 yuan/mt, with an increase of 0.71%. The highest price was 254,000 yuan/mt, and the lowest was 248,600 yuan/mt.