Copper- Overnight, LME copper opened at $9,259/mt, fluctuated downward initially, and hit a low of $9,210/mt during the session. It then rebounded, fluctuated downward again before recovering, and reached a high of $9,267.5/mt at the session's end, finally closing at $9,245/mt, up by 0.3%. Trading volume reached 20,000 lots, and open interest stood at 286,000 lots. Overnight, the most-traded SHFE copper 2503 contract opened at 76,300 yuan/mt, hit a low of 76,070 yuan/mt early in the session, then fluctuated upward to a high of 76,500 yuan/mt. Subsequently, the center of fluctuations shifted downward, and it finally closed at 76,280 yuan/mt, up by 0.49%. Trading volume reached 27,000 lots, and open interest stood at 167,000 lots.
Aluminum- Overnight, the most-traded SHFE aluminum 2503 contract opened at 20,420 yuan/mt, with a high of 20,450 yuan/mt and a low of 20,360 yuan/mt, closing at 20,370 yuan/mt, up 70 yuan/mt or 0.35%. Overnight, LME aluminum opened at $2,609/mt, with a high of $2,647/mt and a low of $2,594.5/mt, closing at $2,633.5/mt, up $29.5/mt or 1.19%.
Lead- Overnight, LME lead opened at $1,937/mt, fluctuating upward throughout the day. Remarks by US officials regarding an interest rate cut weakened the US dollar index, while LME lead inventory reversed to a decline. During the European session, LME lead's upward momentum strengthened, reaching a peak of $1,978/mt. By the close, LME lead settled at $1,976.5/mt, up by 2.2%. Overnight, the most-traded SHFE lead 2502 contract opened at 16,665 yuan/mt. In early trading, SHFE lead surged to 16,700 yuan/mt, but consumption was weighed down by the Chinese New Year holiday, causing SHFE lead to give up part of its gains. In the latter half of the trading session, SHFE lead fluctuated between 16,635-16,665 yuan/mt, eventually closing at 16,645 yuan/mt, up by 0.42%. Its open interest reached 25,208 lots, a decrease of 1,862 lots compared to the previous trading day.
Zinc - Overnight, LME zinc opened at $2,878/mt. At the beginning of the session, LME zinc fluctuated downward around the daily moving average, hitting a low of $2,845/mt. During European trading hours, increased long positions pushed LME zinc to fluctuate upward, reaching a high of $2,886/mt. Entering the night session, the center slightly dipped and fluctuated near the daily moving average, eventually closing higher at $2,874/mt, up by $7/mt or 0.24%. Trading volume decreased to 8,472 lots, while open interest increased by 2,431 lots to 220,000 lots. Overnight, the most-traded SHFE zinc 2503 contract opened at 23,810 yuan/mt. At the beginning of the session, a tug-of-war between longs and shorts caused SHFE zinc to fluctuate near the daily moving average. Subsequently, increased long positions drove SHFE zinc to fluctuate upward, reaching a high of 23,810 yuan/mt. However, shorts at high levels pressured the center of SHFE zinc downward, eventually closing higher at 23,745 yuan/mt, up by 50 yuan/mt or 0.21%. Trading volume decreased to 68,166 lots, while open interest increased by 1,730 lots to 109,000 lots.
Nickel : Battery-grade nickel sulphate index price was 26,506 yuan/mt, with a quotation range of 26,250-26,970 yuan/mt, and the average price increased compared to yesterday.