Copper - LME copper opened at $9,015/mt overnight, initially dipping to $9,006/mt, then rising throughout the session to a high of $9,158/mt. It slightly retreated towards the end, closing at $9,100.5/mt, up 1.51%. Trading volume reached 23,000 lots, and open interest was 279,000 lots. The most-traded SHFE copper 2410 contract opened at 72,310 yuan/mt, initially dipping to 72,240 yuan/mt, then rising throughout the session to a high of 73,050 yuan/mt. It slightly retreated towards the end, closing at 72,610 yuan/mt, up 0.92%. Trading volume reached 64,000 lots, and open interest was 164,000 lots.
Aluminum - Overnight, the most-traded SHFE aluminum 2410 contract opened at 19,270 yuan/mt, with a high of 19,385 yuan/mt, a low of 19,250 yuan/mt, and closed at 19,300 yuan/mt, up 105 yuan/mt, an increase of 0.55%. On Thursday, LME aluminum opened at $2,392/mt, with a high of $2,410/mt, a low of $2,363/mt, and closed at $2,378/mt, down $21.5/mt, a decrease of 0.90%.
Zinc - Overnight, LME lead opened at $2,019.5/mt. Dragged by macro weakness and the news of Russia's OZ lead-zinc mine commissioned in advance, LME lead's trading focus further shifted downward, breaking the $2,000/mt mark, hitting a low of $1,988/mt, a new one-month low. By the end of the session, LME lead closed at $1,988/mt, down 1.36%. Overnight, domestic lead ingot inventory accumulation intensified, and SHFE lead's overall trading focus shifted downward again. The most-traded SHFE lead 2410 contract opened at 17,000 yuan/mt. Initially, strong bearish forces pushed SHFE lead down to 16,895 yuan/mt. Later, as the tug-of-war between bulls and bears intensified, SHFE lead attempted but failed to reclaim the 17,000 yuan/mt mark, finally closing at 16,935 yuan/mt, down 0.94%. Its open interest was 52,754 lots, a decrease of 1,960 lots from the previous trading day.
Zinc - Overnight, LME zinc opened at $2,808/mt, initially fluctuating near the daily moving average, peaking at $2,811/mt. Subsequently, longs reduced positions, causing LME zinc to fluctuate downward, hitting a low of $2,721/mt during European trading hours. Later, LME zinc's focus shifted upward, fluctuating around $2,750/mt during the night session, ultimately closing down at $2,730.5/mt, a decrease of $72.5/mt or 2.59%. Trading volume increased to 13,296 lots, and open interest decreased by 852 lots to 222,000 lots. , an increase of 50 yuan/mt or 0.22%. Trading volume decreased to 138,000 lots, and open interest decreased by 1,678 lots to 101,000 lots.
Nickel - On September 5, Jinchuan nickel was quoted at a premium of 1,300-1,400 yuan/mt, with an average of 1,350 yuan/mt, up 200 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a discount of 350 yuan/mt to a premium of 100 yuan/mt, with an average discount of 125 yuan/mt, remaining flat compared to the previous trading day.