🔹 Base Metal Update
Advisory Bazaar Info Services
Copper:
LME copper opened at $9,690/mt overnight, experiencing notable fluctuations in early trading. It reached a high of $9,716/mt before pulling back to a low of $9,674/mt. Prices later rebounded, closing at $9,708.5/mt, up 0.78%, with trading volume at 13,000 lots and open interest at 266,000 lots.
On the SHFE, the most-traded copper 2509 contract opened at 78,460 yuan/mt, reached a high of 78,570 yuan/mt, then dropped to a low of 78,330 yuan/mt before rebounding to close at 78,370 yuan/mt, up 0.19%, with trading volume at 19,000 lots and open interest at 160,000 lots.
Aluminum:
The most-traded cast aluminum alloy AD2511 contract opened at 19,915 yuan/mt, hit a high of 19,940 yuan/mt, and closed at the day’s low of 19,865 yuan/mt, down 65 yuan/mt (0.33%) from the previous close. Trading volume was 388 lots, and open interest stood at 8,241 lots, with bulls leading the position reduction.
Lead:
LME lead opened at $1,974/mt and remained rangebound during the Asian session. It reached a high of $1,977.5/mt in the European session before dropping to a low of $1,956/mt, eventually closing at $1,963.5/mt, down 0.53%.
The most-traded SHFE lead 2509 contract opened at 16,750 yuan/mt, briefly hit a high of 16,760 yuan/mt, and then declined to close at 16,660 yuan/mt, down 0.72%, after touching a low of 16,650 yuan/mt.
Zinc:
LME zinc opened at $2,728/mt, briefly fell to $2,718.5/mt, and then trended upward, reaching a high of $2,758.5/mt and closing at $2,754/mt, up $24.5/mt (0.9%). Trading volume decreased to 8,165 lots, while open interest rose by 1,135 lots to 190,000 lots.
On the SHFE, the most-traded zinc 2509 contract opened at 22,330 yuan/mt, fluctuated around the daily average early in the session, then declined slightly to close at 22,280 yuan/mt, up 75 yuan/mt (0.34%). Trading volume dropped to 38,443 lots, and open interest fell by 2,510 lots to 100,000 lots.
Tin:
The most-traded SHFE tin 2509 contract opened lower and showed slight downward movement during the night session, closing at 265,400 yuan/mt, down 0.27% from the previous trading day.