Copper - On Friday evening, LME copper opened at $9,375.5/mt. It initially dipped to $9,350/mt, fluctuated considerably during the session, hitting a high of $9,401.5/mt, and closed at $9,360/mt after continued fluctuations, marking a 1% decline. Trading volume reached 13,000 lots, and open interest stood at 286,000 lots. On the same evening, the most-traded SHFE copper 2506 contract opened at 77,510 yuan/mt. It fluctuated rangebound in the early session, with the price center shifting downward, hitting a low of 77,250 yuan/mt. The price center rebounded towards the end of the session, reaching a high of 77,550 yuan/mt, and closed at 77,470 yuan/mt, down 0.22%. Trading volume reached 45,000 lots, and open interest stood at 162,000 lots.
Aluminum - On the previous trading day's night session, the most-traded SHFE aluminum 2506 contract opened at 19,950 yuan/mt, with a high of 19,995 yuan/mt, a low of 19,920 yuan/mt, and closed at 19,970 yuan/mt, down 60 yuan/mt or 0.30% from the previous close. LME aluminum opened at $2,458.5/mt on the previous trading day, with a high of $2,468/mt, a low of $2,426/mt, and closed at $2,437.5/mt, down $22/mt or 0.89%.
Lead - On Friday, LME lead opened at $1,961.5/mt, touched a high of $1,965/mt in early trading, and then fluctuated downward due to the strong performance of the US dollar index. LME lead fell to a low of $1,941/mt in the closing session and closed at $1,945/mt, down 0.66%.
On Friday evening, the most-traded SHFE lead 2506 contract opened at 16,940 yuan/mt, touched a high of 16,960 yuan/mt in early trading, and then fluctuated downward due to the weak performance of LME lead. The low during the session was 16,825 yuan/mt, and it closed at 16,855 yuan/mt, down 0.53%.
Zinc - On Friday, LME zinc opened at $2,705.5/mt. At the start of the session, bears increased their positions, pushing LME zinc briefly higher to $2,710/mt. Subsequently, LME zinc fluctuated downward throughout the session, dipping to a low of $2,642/mt by the close. It eventually closed at $2,645.5/mt, down $59.5/mt or 2.2% from the previous close. Trading volume increased to 10,898 lots, while open interest rose by 1,055 lots to 205,000 lots. On the same day, the most-traded SHFE zinc 2506 contract opened at 22,630 yuan/mt. At the start of the session, bulls reduced their positions, causing SHFE zinc to briefly dip to 22,525 yuan/mt. It then oscillated around the daily average line, with fluctuations of less than 100 yuan. It eventually closed at 22,550 yuan/mt, down 200 yuan/mt or 0.88% from the previous close. Trading volume decreased to 61,118 lots, while open interest increased by 2,803 lots to 120,000 lots.
Nickel - Last week, nickel prices continued the fluctuating trend seen since mid-April. The average price of SMM 1# refined nickel was 126,850 yuan/mt last week, up slightly by 0.5% WoW. LME nickel futures prices fluctuated rangebound around $15,600-15,800/mt.