Copper - Overnight, LME copper opened at $9,457/mt, initially edged upward before fluctuating downward, hitting a low of $9,415/mt during the session. It then fluctuated upward, reaching a high of $9,510/mt near the close, before slightly pulling back to settle at $9,476/mt, up 0.07%. Trading volume reached 20,000 lots, and open interest stood at 291,000 lots. Overnight, the most-traded SHFE copper 2503 contract opened at 77,500 yuan/mt, quickly hitting a high of 77,590 yuan/mt before fluctuating rangebound downward, reaching a low of 77,130 yuan/mt during the session. It then rebounded, forming a "V-shape," and slightly pulled back near the close to settle at 77,450 yuan/mt, up 0.06%. Trading volume reached 24,000 lots, and open interest stood at 180,000 lots.

Aluminum - Overnight, the SHFE aluminum 2503 contract opened at 20,505 yuan/mt, with a high of 20,550 yuan/mt and a low of 20,470 yuan/mt, closing at 20,540 yuan/mt, down 20 yuan/mt or 0.10% from the previous day. Yesterday, LME aluminum opened at $2,624/mt, with a high of $2,634.5/mt and a low of $2,583.5/mt, closing at $2,608/mt, down $18.5/mt or 0.70%.

Lead - Overnight, LME lead opened at $1,976.5/mt. During the Asian trading session, the market saw sluggish trading, with LME lead consolidating between $1,975-1,980/mt. Entering the European session, the US dollar index fell consecutively, boosting base metals. LME lead also fluctuated upward, approaching the key $2,000/mt level and recovering nearly all losses from the previous day. LME lead ultimately closed at $1,991.5/mt, up 0.94%. Overnight, the most-traded SHFE lead 2503 contract opened at 17,150 yuan/mt. With visible lead ingot inventory increasing, SHFE lead nearly broke below 17,100 yuan/mt at the start of trading. Later, driven by LME lead's gains, SHFE lead rebounded but mostly consolidated between 17,125-17,160 yuan/mt. It eventually closed at 17,125 yuan/mt, down 0.03%, with open interest at 37,256 lots, an increase of 94 lots from the previous trading day.

Zinc - Overnight, LME zinc opened at $2,866.5/mt. At the beginning of the session, LME zinc fluctuated around the daily moving average, reaching a high of $2,872/mt. During the midday session, it began to fluctuate downward, hitting a low of $2,833/mt by the end of the session, and finally closed down at $2,837.5/mt, a decrease of $28.5/mt or 0.99%. Trading volume decreased to 8,888 lots, and open interest fell by 1,641 lots to 225,000 lots. Overnight, the most-traded SHFE zinc 2503 contract opened at 23,745 yuan/mt. After the opening, SHFE zinc fluctuated around the daily moving average, hitting a low of 23,670 yuan/mt during the session. It then rebounded from the low to reach a high of 23,850 yuan/mt, before pulling back from the high and finally closed down at 23,737.5 yuan/mt, a decrease of 40 yuan/mt or 0.17%. Trading volume decreased to 53,235 lots, while open interest increased by 175 lots to 84,880 lots.

Nickel - Spot premiums/discounts: Mainstream spot premiums for Jinchuan Nickel No. 1 were quoted in the range of 2,000-2,300 yuan/mt, with an average premium of 2,150 yuan/mt, up 100 yuan compared to the previous trading day. Russian nickel premiums/discounts were quoted in the range of -100 to 100 yuan/mt, with an average premium of 0 yuan/mt, up 50 yuan compared to the previous trading day. Futures: Nickel prices opened lower in the morning, with a decline of 0.16%, reaching a low of 124,010 yuan/mt.