Copper - LME copper opened at $8,975.5/mt overnight, initially dipping to $8,963.5/mt before rebounding and peaking at $9,015/mt near the close, ultimately settling at $8,987/mt, down 0.34%. Trading volume reached 12,000 lots, and open interest stood at 271,000 lots. The most-traded SHFE copper 2501 contract opened at 73,670 yuan/mt, fluctuated widely at the beginning, dipping to 73,510 yuan/mt mid-session, then climbed to 73,800 yuan/mt near the close, and finally settled at 73,730 yuan/mt, down 0.16%. Trading volume reached 27,000 lots, and open interest stood at 159,000 lots.

Aluminum - Overnight, the most-traded SHFE aluminum 2501 contract opened at 20,235 yuan/mt, reached a high of 20,315 yuan/mt, a low of 20,220 yuan/mt, and closed at 20,275 yuan/mt, down 80 yuan/mt from the previous day, a decline of 0.39%. Yesterday, LME aluminum opened at $2,597/mt, hit a high of $2,603/mt, a low of $2,563/mt, and closed at $2,590/mt, down $12/mt, a decline of 0.46%.

Lead - Overnight, LME lead opened at $2,058.5/mt, fluctuated downward during the Asian session, and dipped to $2,037/mt in the European session. However, due to the weakening US dollar, the pressure on base metals was released, and LME lead rebounded in a V-shape, reaching a high of $2,070/mt and finally closing at a high of $2,044/mt, down 0.78%. Overnight, the most-traded SHFE lead 2501 contract opened at 16,955 yuan/mt, briefly touched a low of 16,935 yuan/mt at the beginning of the session, and then fluctuated rangebound around the intraday moving average. The contract reached a high of 17,470 yuan/mt and finally closed at 17,365 yuan/mt, up 2.79%.

Zinc - Overnight, LME zinc opened at $3,140.5/mt, briefly rose to $3,168/mt at the beginning of the session, then fluctuated downward below the daily moving average to a low of $3,022/mt. It then slightly rebounded, fluctuating rangebound around $4,045/mt, and finally closed down at $3,047.5/mt, a decrease of $92.5/mt or 2.95%. Trading volume decreased to 95,219 lots, and open interest remained unchanged at 247,000 lots. Overnight, the most-traded SHFE zinc 2501 contract opened at 25,245 yuan/mt, initially rose to 25,325 yuan/mt, then fluctuated downward along the daily moving average to a low of 25,145 yuan/mt as longs reduced positions. It then fluctuated rangebound near the daily moving average and finally closed down at 25,215 yuan/mt, a decrease of 140 yuan/mt or 0.55%. Trading volume decreased to 170,000 lots, and open interest decreased by 6,531 lots to 151,000 lots.

Nickel - Spot premiums/discounts: The mainstream spot premium for Jinchuan #1 nickel was 3,000-3,500 yuan/mt, with mainstream market transaction premiums concentrated at 3,000-3,200 yuan/mt. The average premium was 3,100 yuan/mt, unchanged from the previous trading day. Norilsk nickel spot premiums were -200-100 yuan/mt, with an average discount of 50 yuan/mt, up 50 yuan from the previous trading day.