Copper - Last Friday evening, LME copper opened at $9,263/mt, briefly reaching a high of $9,274/mt at the beginning of the session. It then trended downward, hitting a low of $9,124/mt during the session, before slightly rebounding to close at $9,181.5/mt, down 0.69%. Trading volume reached 23,000 lots, and open interest stood at 287,000 lots. Last Friday evening, the most-traded SHFE copper 2503 contract opened at 76,340 yuan/mt, briefly reaching a high of 76,380 yuan/mt at the beginning of the session. It then trended downward, hitting a low of 75,540 yuan/mt during the session, before slightly rebounding to close at 75,800 yuan/mt, down 0.76%. Trading volume reached 42,000 lots, and open interest stood at 165,000 lots.
Aluminum - On Friday night, the most-traded SHFE aluminum 2503 contract opened at 20,470 yuan/mt, hitting a high of 20,545 yuan/mt and a low of 20,430 yuan/mt, and closed at 20,545 yuan/mt, up 75 yuan/mt or 0.36%. On Friday, it opened at $2,631.5/mt, reached a high of $2,692/mt and a low of $2,631.5/mt, and closed at $2,680.5/mt, up $47/mt or 1.79%.
Lead - Last Friday night, LME lead opened at $1,970/mt. During the Asian session, it rose to a high of $1,987/mt before declining. In the European session, it continued to weaken, hitting a low of $1,954.5/mt. Before the close, it slightly rebounded and finally settled at $1,965.5/mt, down $11/mt or 0.56%. Last Friday night, the most-traded SHFE lead 2503 contract opened at 16,690 yuan/mt, initially fell to a low of 16,635 yuan/mt, then rebounded and rose, eventually closing at 16,770 yuan/mt, up 75 yuan/mt or 0.45%.
Zinc - Last Friday, LME zinc opened at $2,879.5/mt. At the beginning of the session, LME zinc dipped to $2,868.5/mt, after which bulls increased positions, driving LME zinc to fluctuate upward above the daily moving average. During the night session, the center of LME zinc slightly moved downward below the daily moving average, then quickly rebounded to fluctuate around $2,940/mt, eventually closing higher at $2,944.5/mt, up by $70.5/mt or 2.45%. Trading volume increased to 47,147 lots, and open interest rose by 94 lots to 220,000 lots. Last Friday, the most-traded SHFE zinc 2503 contract opened at 24,275 yuan/mt. At the beginning of the session, bears increased positions, driving SHFE zinc downward below the daily moving average to a low of 24,025 yuan/mt. However, bulls increased positions, pushing SHFE zinc upward to a high of 24,360 yuan/mt, recording a "V-shaped" reversal. Subsequently, the center of SHFE zinc fluctuated rangebound around 24,300 yuan/mt, eventually closing higher at 24,305 yuan/mt, up by 80 yuan/mt or 0.33%. Trading volume decreased to 121,000 lots, while open interest increased by 861 lots to 105,000 lots.
Nickel - Last week, nickel prices fluctuated upward, with spot prices ranging between 126,950-130,700 yuan/mt and futures prices fluctuating within 125,700-128,800 yuan/mt. The premium for Jinchuan brand nickel dropped sharply, declining from an average of 2,200 yuan/mt at the beginning of the week to around 1,700 yuan/mt by Friday, reflecting sluggish market transactions and ample supply.