Copper - Overnight, LME copper opened at $8,888/mt, initially dropped to $8,714/mt, then rebounded during the session, approaching $8,960/mt near the end of the trading session, and finally closed at $8,854.5/mt, down 2.56%. Trading volume reached 46,000 lots, and open interest was 291,000 lots. Overnight, the most-traded SHFE copper 2409 contract opened at 70,800 yuan/mt, initially dipped to 70,630 yuan/mt, then rose during the session, reaching 71,690 yuan/mt, and finally closed at 71,300 yuan/mt, down 2.41%. Trading volume reached 105,000 lots, and open interest was 175,000 lots.

Aluminum - The most-traded SHFE aluminum 2409 contract opened at 18,785 yuan/mt overnight, reaching a high of 18,920 yuan/mt and a low of 18,755 yuan/mt, and closed at 18,885 yuan/mt, down 10 yuan/mt, a decrease of 0.05%. The previous trading day, LME aluminum opened at $2,261/mt, reached a high of $2,283/mt, a low of $2,227/mt, and closed at $2,262/mt, down $1/mt, a decrease of 0.04%.

Lead - Overnight, LME lead opened at $2,027/mt, briefly touched a high of $2,038/mt during the Asian session, and then fluctuated downward. Entering the European session, shorts increased their positions and the dollar fluctuated upward, causing LME lead to dip to $1,926.5/mt, and it finally closed at $1,957.5/mt, down 3.81%. Overnight, the most-traded SHFE 2409 lead contract opened at 17,300 yuan/mt, briefly touched a low of 17,075 yuan/mt at the beginning of the session, and then weakly consolidated as longs reduced their positions. During this period, it touched a high of 17,415 yuan/mt and finally closed at 17,235 yuan/mt, down 3.58%.

Zinc - Overnight, LME zinc opened at $2,646.5/mt. At the beginning of the session, bulls had the upper hand in the tug-of-war, pushing LME zinc to a high of $2,692.5/mt. Subsequently, as bulls took profits and exited, LME zinc fluctuated downward, operating below the average daily line. Approaching the night session, it dipped to $2,563/mt. Entering the night session, LME zinc rebounded from the bottom, consolidating around $2,635/mt, and finally closed lower at $2,642/mt, down $20/mt, a decrease of 0.75%. Trading volume increased to 15,188 lots, and open interest decreased by 1,185 lots to 220,000 lots. LME zinc's various moving averages above form resistance. Overnight, the most-traded SHFE zinc 2409 contract opened lower at 22,020 yuan/mt. At the beginning of the session, SHFE zinc quickly dipped to 21,975 yuan/mt, then as bears took profits and exited, SHFE zinc corrected upward, fluctuating upward throughout the session. By the end of the trading session, the focus shifted upward to 22,290 yuan/mt, and finally closed lower at 22,300 yuan/mt, down 230 yuan/mt, a decrease of 1.02%. Trading volume decreased to 115,000 lots, and open interest decreased by 339 lots to 89,074 lots.

Nickel - On August 5, Jinchuan nickel was quoted at a premium of 1,500-1,700 yuan/mt, with an average of 1,600 yuan/mt, flat compared to the previous trading day. Norilsk nickel was quoted at a discount of 200 yuan/mt to a premium of 200 yuan/mt, with an average of 0 yuan/mt, up 50 yuan/mt from the previous trading day.

Tin - In the night session yesterday, the most-traded SHFE tin contract closed at 242,250 yuan/mt, down 5,650 yuan/mt, a decrease of 2.28%. The highest price was 243,200 yuan/mt, and the lowest was 239,610 yuan/mt. Yesterday, spot premiums and discounts in domestic spot market for various tin ingot brands were as below. Small brand tin ingots were offered at premiums of 500-1,500 yuan/mt over SHFE 2409 tin contract, versus premiums of 400-1,500 yuan/mt for delivery brands, and premiums of 700-1,100 yuan/mt for Yunxi brand. Tin prices surged and then fell back yesterday, with some downstream producers making small restocks in the afternoon after prices fell, but most downstream producers remained on the sidelines. Overall, the spot market transactions were relatively moderate yesterday.