*🔔 Base Metals Update*
*Advisory Bazaar Info Services*
*Copper*
Overnight, LME copper opened at $9,997/mt, briefly hitting a high of $10,013/mt before dropping sharply to a low of $9,937/mt. It later rebounded slightly and closed at $9,951.5/mt, down 0.58%. Trading volume stood at 13,000 lots, with open interest at 282,000 lots.
On the SHFE, the most-traded copper 2508 contract opened weak, dropped to a low of ¥80,370/mt, then rebounded to a high of ¥80,760/mt, and finally settled at ¥80,540/mt, down 0.27%. Trading volume was 28,000 lots, and open interest 223,000 lots.
*Lead*
LME lead opened at $2,057.5/mt, touched a low of $2,057/mt, then moved higher to a session high of $2,073/mt, and closed at $2,063/mt, marginally down 0.02%.
SHFE lead 2508 contract opened with a gap at ¥17,220/mt, dipped to ¥17,215/mt, then recovered steadily and closed at a session high of ¥17,305/mt, up 0.26%.
*Aluminum*
On SHFE, the most-traded aluminum 2508 contract opened at ¥20,640/mt, moved between a high of ¥20,680/mt and a low of ¥20,585/mt, and closed at ¥20,650/mt, down 0.15%.
LME aluminum opened at $2,616.5/mt, traded between $2,599.5/mt and $2,624.0/mt, and settled at $2,605.5/mt, down 0.34%.
*Zinc*
LME zinc opened at $2,753/mt, peaked at $2,759.5/mt, and dropped to a low of $2,734/mt, closing at $2,738/mt, down $15/mt or 0.54%. Trading volume dropped to 6,367 lots, and open interest declined by 2,486 lots to 207,000 lots.
SHFE zinc 2508 contract opened at ¥22,295/mt, fell to ¥22,260/mt, surged to ¥22,365/mt, and closed slightly higher at ¥22,330/mt, up ¥5/mt or 0.02%. Trading volume decreased to 47,375 lots, and open interest to 128,000 lots.
*Nickel*
The most-traded SHFE nickel 2508 contract was strong during the night session, closing at ¥121,670/mt, up 0.70%. LME nickel also rose 0.9% to $15,320/mt.
In the daytime session, SHFE nickel opened at ¥121,280/mt, but faced pressure and closed at ¥121,440/mt by midday, still up 0.51% for the day.
*Tin*
SHFE tin SN2508 contract showed limited movement. After a mild rise in the night session, it pulled back and closed around ¥269,100/mt, a marginal gain of 0.04% from the previous trading day.