Copper - Overnight, LME copper opened at $9,112/mt. Initially, it moved higher amid fluctuations, reaching a session high of $9,185/mt. It then declined, hitting a session low of $8,986.5/mt at the end of the trading session. It slightly fluctuated around $9,210/mt before finally closing at $9,002.5/mt, down 2.57%. Trading volume reached 26,000 lots, and open interest was 290,000 lots. Overnight, the most-traded SHFE 2409 copper contract opened at 74,510 yuan/mt. Initially, it moved higher, reaching a session high of 74,840 yuan/mt. It then declined amid fluctuations, hitting a session low of 73,670 yuan/mt at the end of the trading session, and finally closed at 73,740 yuan/mt, down 1.61%. Trading volume reached 76,000 lots, and open interest was 183,000 lots.
Aluminum - The most-traded SHFE 2409 aluminum contract opened at 19,230 yuan/mt overnight, reaching a high of 19,330 yuan/mt and a low of 19,225 yuan/mt, and closed at 19,225 yuan/mt, up 50 yuan/mt, an increase of 0.26%. The previous trading day, LME aluminum opened at $2,311/mt, reached a high of $2,327.5/mt and a low of $2,272.5/mt, and closed at $2,273.5/mt, down $41.5/mt, a decrease of 1.79%.
Lead - Overnight, LME lead opened at $2,100/mt. During the Asian session, it consolidated around the intraday moving average before weakening slightly. Entering the European session, it continued to fluctuate downward, hitting a low of $2,048/mt, and finally closed at $2,050.5/mt, down $49/mt, a decrease of 2.33%. Overnight, the most-traded SHFE 2409 lead contract opened at 18,725 yuan/mt. After briefly touching 18,735 yuan/mt at the beginning of the session, some long funds exited, the price spread between the front-month and next-month contracts narrowed, and the squeeze atmosphere faded. The most-traded SHFE lead contract weakened all the way down, consolidating slightly under pressure at 18,350 yuan/mt, hitting a low of 18,270 yuan/mt, and finally closed at 18,305 yuan/mt, down 555 yuan/mt, a decrease of 2.94%.
Zinc - Overnight, LME zinc opened at $2,698.5/mt. At the beginning of the session, LME zinc quickly rose to a high of $2,724/mt, then fell back and continued to decline to a low of $2,649.5/mt. Subsequently, LME zinc rebounded, but after failing to reach a new high, it returned to run near the average daily line, finally closing lower at $2,680.5/mt, down $17.5/mt, a decrease of 0.65%. Trading volume reduced to 10,766 lots, and open interest decreased by 2,665 lots to 219,000 lots. Overnight, the most-traded SHFE zinc 2409 contract opened at 22,845 yuan/mt. After the opening, SHFE zinc quickly rose to a high of 23,040 yuan/mt, then fell back below the average daily line due to long positions reducing, with a low of 22,830 yuan/mt during the period. It finally closed higher at 22,860 yuan/mt, up 75 yuan/mt, an increase of 0.33%. Trading volume reduced to 89,047 lots, and open interest decreased by 94 lots to 88,286 lots.
Nickel - On August 1, Jinchuan nickel was quoted at a premium of 1,400-1,800 yuan/mt, with an average of 1,600 yuan/mt, down 200 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a discount of 300 yuan/mt to a premium of 200 yuan/mt, with an average of 50 yuan/mt, flat compared to the previous trading day.
Tin - In the night session yesterday, the most-traded SHFE tin contract closed at 248,150 yuan/mt, down 2,530 yuan/mt, a decrease of 1.01%. The highest price was 250,660 yuan/mt, and the lowest was 247,380 yuan/mt.