Copper - LME copper opened at $9,527/mt overnight, initially dipped to $9,490/mt, then climbed throughout the session, fluctuated rangebound at the end, and peaked at $9,688.5/mt, finally closing at $9,678.5/mt. The open interest was 277,000 lots. The most-traded SHFE copper 2412 contract opened at 76,950 yuan/mt overnight, initially dipped to 76,850 yuan/mt, then slightly fluctuated upward throughout the session, peaked at 77,630 yuan/mt at the end, and finally closed at 77,590 yuan/mt, up 2.12%. The trading volume was 44,000 lots and open interest was 152,000 lots.
Aluminum - The most-traded SHFE aluminum 2412 contract opened at 21,650 yuan/mt overnight, with a high of 21,820 yuan/mt, a low of 21,560 yuan/mt, and closed at 21,735 yuan/mt, up 755 yuan/mt from the previous close, an increase of 3.60%. The trading volume was 121,000 lots, and the open interest was 225,000 lots, with a daily reduction of 4,154 lots. On Thursday, LME aluminum opened at $2,615/mt, reached a high of $2,732/mt, a low of $2,614.5/mt, and closed at $2,704.5/mt, up $89.5/mt, an increase of 3.42%.
Lead - Overnight, LME lead opened at $2,037.5/mt, briefly touched a low of $2,034.5/mt during the Asian session, fluctuated upward to a high of $2,060/mt in the European session, and dropped back slightly at the end to close at $2,037/mt, down 0.44%. Overnight, the most-traded SHFE lead 2412 contract opened at a high of 16,950 yuan/mt. Due to increased short positions, SHFE lead fluctuated downward, hitting a low of 16,810 yuan/mt at the end and closing at 16,840 yuan/mt, up 0.24%.
Zinc - Overnight, LME zinc opened at $2,970/mt, hitting the intraday low at the opening. Subsequently, shorts reduced their positions, and LME zinc fluctuated upward, reaching a high of $3,092/mt during the night session. However, lacking upward momentum, LME zinc fluctuated along the daily moving average and finally closed up at $3,071/mt, an increase of $105/mt or 3.54%. Trading volume decreased to 13,591 lots, and open interest fell by 4,413 lots to 243,000 lots. Overnight, the most-traded SHFE zinc 2412 contract opened at 25,300 yuan/mt. At the beginning of the session, longs increased their positions, and SHFE zinc fluctuated upward, reaching a high of 25,430 yuan/mt. Later, SHFE zinc fluctuated along the daily moving average and finally closed up at 25,290 yuan/mt, an increase of 120 yuan/mt or 0.48%. Trading volume decreased to 77,078 lots, and open interest increased by 4,356 lots to 108,000 lots.
Nickel - On November 7, Jinchuan nickel was quoted at a premium of 1,700-1,800 yuan/mt, with an average of 1,750 yuan/mt, remaining flat compared to the previous trading day. Norilsk nickel was quoted at a discount of 400-0 yuan/mt, with an average of 200 yuan/mt, also remaining flat compared to the previous trading day.