Copper - Overnight, LME copper opened at $9,531.5/mt, initially rising to an intraday high of $9,580/mt before declining throughout the session, touching a low of $9,493.5/mt near the close, and finally settling at $9,547/mt, down 0.13%. Trading volume reached 16,000 lots, and open interest was 275,000 lots. Overnight, the most-traded SHFE copper 2412 contract opened at 76,670 yuan/mt, initially hitting a high of 767,100 yuan/mt before fluctuating lower throughout the session, touching a low of 76,100 yuan/mt near the close, and slightly rebounding to finally settle at 76,300 yuan/mt, down 0.25%. Trading volume reached 39,000 lots, and open interest was 157,000 lots.

Aluminum - Overnight, the most-traded SHFE aluminum 2412 contract opened at 20,775 yuan/mt, reaching a high of 20,870 yuan/mt and a low of 20,705 yuan/mt, and closed at 20,725 yuan/mt, down 10 yuan/mt or 0.05% from the previous close. Trading volume was 65,100 lots, open interest was 195,000 lots, with a daily decrease of 3,112 lots. Yesterday, LME aluminum opened at $2,612/mt, hit a high of $2,650/mt, a low of $2,606.5/mt, and closed at $2,626/mt, up $11/mt or 0.42%.

Lead - Overnight, LME lead opened at $2,003.5/mt. During the Asian session, it was under pressure and consolidated along the intraday moving average. Entering the European session, it dipped to $1,993/mt before rebounding to a high of $2,039/mt. After a slight consolidation, it finally closed at $2,037/mt, up $33/mt, or 1.65%. Overnight, the most-traded SHFE lead 2412 contract opened at 16,650 yuan/mt. It fluctuated downward at the beginning of the session, reaching a low of 16,550 yuan/mt. After a slight rebound, it was pressured by the intraday moving average and finally closed at 16,565 yuan/mt, down 125 yuan/mt, or 0.75%.

Zinc - Overnight, LME zinc opened at $3,078.5/mt. At the beginning of the session, LME zinc fluctuated rangebound around the daily moving average, then climbed to a high of $3,129.5/mt. Subsequently, LME zinc fluctuated downward below the daily moving average, attempted to rebound from the low but was ultimately blocked and fell back to a low of $3,015.5/mt below the daily moving average. By the end of the session, LME zinc slightly moved up and closed down at $3,037.5/mt, down $49.5/mt, a decline of 1.6%. Trading volume increased to 122,000 lots, and open interest increased by 2,152 lots to 255,000 lots. Overnight, the most-traded SHFE zinc 2412 contract opened at 25,235 yuan/mt. At the beginning of the session, SHFE zinc fluctuated rangebound around the daily moving average, reaching a high of 25,260 yuan/mt. Subsequently, longs reduced positions, and SHFE zinc fluctuated downward below the daily moving average to a low of 24,810 yuan/mt. By the end of the session, shorts increased positions, and SHFE zinc slightly moved up, closing down at 24,875 yuan/mt, down 400 yuan/mt, a decline of 1.58%. Trading volume decreased to 106,000 lots, and open interest decreased by 6,946 lots to 115,000 lots.

Nickel - On October 31, Jinchuan nickel was quoted at a premium of 1,400-1,600 yuan/mt, with an average of 1,500 yuan/mt, down 300 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 500-150 yuan/mt, with an average of 325 yuan/mt, down 225 yuan/mt from the previous trading day.