Copper - Overnight, LME copper opened at $9,000/mt, dipping to $8,996.5/mt at the beginning of the session, then fluctuating upwards to a high of $9,169.5/mt, and closed at $9,091/mt, up 0.45%. Trading volume reached 29,000 lots, and open interest was 297,000 lots. Overnight, the most-traded SHFE 2409 copper contract opened at 73,550 yuan/mt, dipping to 73,380 yuan/mt at the beginning of the session, then reaching a high of 74,450 yuan/mt, and finally closed at 74,150 yuan/mt, up 0.58%. Trading volume reached 91,000 lots, and open interest was 177,000 lots.
Aluminum - Overnight, the most-traded SHFE aluminum 2409 contract opened at 19,130 yuan/mt, reaching a high of 19,240 yuan/mt and a low of 19,090 yuan/mt, and closed at 19,180 yuan/mt, up 5 yuan/mt, an increase of 0.02%. The previous trading day, LME aluminum opened at $2,298/mt, hit a high of $2,303/mt and a low of $2,266/mt, and closed at $2,277.5/mt, down $17.5/mt, a decrease of 0.76%.
Lead- Overnight, LME lead opened at $2,037/mt and continued its stepwise downward trend, hitting a low of $2,026/mt, a new low since April 3, 2024. During the session, LME lead twice attempted to regain $2,050/mt but failed, eventually closing at $2,035.5/mt, down 0.15%, marking its ninth consecutive decline. Overnight, the most-traded SHFE 2409 lead contract opened at 18,720 yuan/mt. The large supply divergence between domestic delivery and non-delivery products intensified market speculation, leading to significant volatility. SHFE lead initially dipped to 18,630 yuan/mt, and then gradually fluctuated upwards, briefly touching 18,910 yuan/mt but failing to hold. It finally closed at 18,810 yuan/mt, down 0.27%. The open interest increased by 3,223 lots to 119,000 lots compared to the previous trading day.
Zinc - Overnight, LME zinc opened at $2,674.5/mt. In the early session, LME zinc fluctuated widely along the average daily line and dipped to $2,632.5/mt during European trading hours. As shorts reduced their positions in the night session, LME zinc quickly surged to a high of $2,692/mt and closed at $2,692/mt, up $17.5/mt or 0.65%. Trading volume increased to 12,538 lots, and open interest decreased by 54 lots to 219,000 lots. Overnight, the most-traded SHFE zinc 2409 contract opened at 23,050 yuan/mt. In the early session, funds entered the market, pushing SHFE zinc upward, with its price center shifting to around 22,740 yuan/mt. During this period, it reached a high of 22,780 yuan/mt and finally closed at 22,760 yuan/mt, up 190 yuan/mt or 0.84%. Trading volume decreased to 95,358 lots, and open interest increased by 1,191 lots to 97,801 lots.
Nickel - On July 25, Jinchuan nickel was quoted at a premium of 2,100-2,200 yuan/mt, with an average of 2,150 yuan/mt, an increase of 250 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a discount of 50 yuan/mt to a premium of 200 yuan/mt, with an average premium of 75 yuan/mt, an increase of 50 yuan/mt compared to the previous trading day.
Tin - In the night trading session yesterday, the main SHFE tin contract closed at 246,730 yuan/mt, down 420 yuan/mt, a decrease of 0.17%. The highest price was 247,480 yuan/mt, and the lowest was 242,020 yuan/mt.