Copper - Overnight, LME copper opened at $9,214/mt, initially peaked at $9,248/mt, then fluctuated downward, touching a low of $9,072/mt towards the close, and finally settled at $9,072/mt, with a decline of 1.14%. Trading volume reached 22,000 lots, and open interest was 267,000 lots. The most-traded SHFE copper 2501 contract opened and peaked at 74,990 yuan/mt, then fluctuated downward, touching a low of 74,530 yuan/mt mid-session, and slightly rebounded to close at 74,700 yuan/mt, with a decline of 0.94%. Trading volume reached 37,000 lots, and open interest was 145,000 lots.
Aluminum - Overnight, the most-traded SHFE aluminum 2502 contract opened at 20,490 yuan/mt, peaked at 20,510 yuan/mt, dropped to a low of 20,420 yuan/mt, and closed at 20,500 yuan/mt, down 60 yuan/mt from the previous day, a decrease of 0.29%. On Thursday, LME aluminum opened at $2,605/mt, reached a high of $2,623/mt, a low of $2,589/mt, and closed at $2,604/mt, up $3/mt, an increase of 0.12%.
Lead - Overnight, LME lead opened at $2,041.5/mt, fluctuated around the daily moving average during the Asian session, and then slightly weakened. Entering the European session, it continued to fluctuate downward, reaching a low of $2,001/mt and finally closing at this level, down $31/mt, a decline of 1.53%. Overnight, the most-traded SHFE lead 2501 contract opened at 17,460 yuan/mt, tested a low of 17,420 yuan/mt at the beginning of the session, then rose to a high of 17,540 yuan/mt, and later fluctuated around the daily moving average, finally closing at 17,465 yuan/mt, down 65 yuan/mt, a decline of 0.37%.
Zinc - Overnight, LME zinc opened at $3,119/mt, fluctuated rangebound around the daily moving average, touching a high of $3,143/mt before descending, probing a low of $3,064/mt towards the close, finally settling down at $3,080.5/mt, a decrease of $38.5/mt or 1.23%, with trading volume increasing to 9,925 lots, and open interest decreasing by 2,920 lots to 237,000 lots. Overnight, the most-traded SHFE zinc 2501 contract opened at 25,790 yuan/mt, initially trading above the daily moving average, reaching a high of 25,805 yuan/mt before falling back from highs to below the daily moving average, probing a low of 25,590 yuan/mt and maintaining a fluctuating trend, finally closing down at 25,675 yuan/mt, a decrease of 290 yuan/mt or 1.12%, with trading volume increasing to 87,986 lots, and open interest decreasing by 10,993 lots to 131,000 lots.
Nickel - Spot Premiums/Discounts: The mainstream spot premiums for Jinchuan #1 nickel ranged from 3,900 to 4,000 yuan/mt, with an average of 3,950 yuan/mt, up 350 yuan from the previous trading day. The spot premiums for Russian nickel ranged from -300 to -100 yuan/mt, with an average of -200 yuan/mt, down 75 yuan from the previous trading day. Futures Market: On December 12, nickel prices led a significant rise in the non-ferrous sector in the morning. The closing price at noon ranged from 3,590 yuan/mt to 128,950 yuan/mt, with an increase of 2.86%. The average price of SMM # 1 refined nickel rose by 2,425 yuan to 129,400 yuan/mt, an increase of 1.91%.