SMM Morning Comments

Category:-Metal | 10-Dec-2024 09:22 PM

Copper - Overnight, LME copper opened at $9,215.5/mt, initially dipped to $9,197/mt, then fluctuated upward, reaching an intraday high of $9,260/mt, and finally closed at $9,231.5/mt, up 1.53%, with a trading volume of 20,000 lots and an open interest of 274,000 lots. Overnight, the most-traded SHFE copper 2501 contract opened at 75,430 yuan/mt, initially dipped to 75,350 yuan/mt, then rose to an intraday high of 75,730 yuan/mt, and finally dropped back slightly to close at 75,570 yuan/mt, up 1.04%, with a trading volume of 40,000 lots and an open interest of 156,000 lots. 

Aluminum - Overnight, the most-traded SHFE aluminum 2501 contract opened at 20,415 yuan/mt, reached a high of 20,535 yuan/mt, a low of 20,400 yuan/mt, and closed at 20,445 yuan/mt, up 105 yuan/mt from the previous day, an increase of 0.52%. On Monday, LME aluminum opened at $2,604/mt, hit a high of $2,622.5/mt, a low of $2,584/mt, and closed at $2,596.5/mt, down $11/mt, a decrease of 0.42%.

Lead - Overnight, LME lead opened at $2,065/mt, consolidating around the daily moving average during the Asian session. Entering the European session, it climbed to a high of $2,097/mt before falling under pressure, ultimately closing at $2,066/mt, down $0.5/mt, a decrease of 0.02%. Overnight, the most-traded SHFE lead 2501 contract opened at 17,775 yuan/mt, climbed to a high of 17,825 yuan/mt before adjusting downwards, touched a low of 17,675 yuan/mt, and then slightly rebounded, ultimately closing at 17,760 yuan/mt, up 85 yuan/mt, an increase of 0.48%.

Zinc - Overnight, LME zinc opened at $3,071/mt, initially fluctuated downward, hitting a low of $3,062/mt, then rebounded and climbed, reaching a high of $3,153.5/mt near the close, before falling back to near the daily average line, finally closing up at $3,128/mt, up $28/mt, or 1.82%. Trading volume increased to 12,007 lots, and open interest rose by 177 lots to 245,000 lots. Overnight, the most-traded SHFE zinc 2501 contract opened at 25,880 yuan/mt, initially reaching a high of 25,995 yuan/mt, then slightly dipping to 25,805 yuan/mt. During the night session, SHFE zinc fluctuated rangebound around the daily average line, finally closing up at 25,820 yuan/mt, up 230 yuan/mt, or 0.90%. Trading volume decreased to 92,902 lots, and open interest increased by 3,412 lots to 133,000 lots.


Follow Us