Copper - LME copper opened at $9,180/mt overnight, initially dipped to $9,163.5/mt, and then fluctuated upward to a high of $9,234/mt during the session, before retreating to close at $9,177/mt, down 0.61%. Trading volume reached 20,000 lots, and open interest was 269,000 lots. The most-traded SHFE copper 2501 contract opened at 75,250 yuan/mt, fluctuated upward to a high of 75,550 yuan/mt initially, then fluctuated downward during the session, dipped to 75,240 yuan/mt near the close, and finally rebounded slightly to close at 75,410 yuan/mt, down 0.11%. Trading volume reached 21,000 lots, and open interest was 149,000 lots.
Aluminum - Overnight, the most-traded SHFE aluminum 2501 contract opened at 20,300 yuan/mt, reached a high of 20,410 yuan/mt and a low of 20,345 yuan/mt, and closed at 20,395 yuan/mt, up 10 yuan/mt or 0.05% from the previous day. On Wednesday, LME aluminum opened at $2,616/mt, reached a high of $2,625/mt and a low of $2,576/mt, and closed at $2,606/mt, down $9/mt or 0.34%.
Lead - Overnight, LME lead opened at $2,068.5/mt, fluctuating around the daily moving average during the Asian session. Entering the European session, it slightly consolidated before falling to a low of $2,032/mt, finally closing at $2,032/mt, down $33/mt, a decrease of 1.6%. Overnight, the most-traded SHFE lead 2501 contract opened at 17,690 yuan/mt. After initially rising to a high of 17,705 yuan/mt, bulls continued to reduce positions and exit, causing SHFE lead to fluctuate downward to a low of 17,550 yuan/mt, ultimately closing at 17,555 yuan/mt, down 100 yuan/mt, a decrease of 0.57%.
Zinc - Overnight, LME zinc opened at $3,147/mt, briefly rose to $3,170/mt after the opening, then fell all the way down to around $3,120/mt, and subsequently hovered below the daily moving average, hitting a low of $3,109/mt, and finally closed down at $3,119/mt, down $30/mt, a decline of 0.95%. Trading volume increased to 6,945 lots, and open interest decreased by 297 lots to 240,000 lots. Overnight, the most-traded SHFE zinc 2501 contract opened at 25,790 yuan/mt, hovered around the daily moving average after the opening, fell below the daily moving average to a low of 25,775 yuan/mt during the session, briefly rose to a high of 25,900 yuan/mt near the close, and finally closed down at 25,855 yuan/mt, down 15 yuan/mt, a decline of 0.06%. Trading volume decreased to 53,275 lots, and open interest decreased by 1,770 lots to 138,000 lots.
Nickel - Spot premiums/discounts: The mainstream premium for Jinchuan #1 nickel was 3,500-3,700 yuan/mt, with an average of 3,600 yuan/mt, up 500 yuan compared to the previous trading day. The spot premium for Norilsk nickel was -250-0 yuan/mt, with an average of -125 yuan/mt, unchanged from the previous trading day. Futures market: On December 11, following a decline in SHFE nickel prices during the night session, nickel prices maintained a sideways movement in the morning with strong support. The midday closing price fell 1,600 yuan/mt to 125,500 yuan/mt, a decrease of 1.26%.