*Base Metal Update-*

Advisory Bazaar Info Services

Copper - Futures: LME copper opened overnight at $10,783.5/mt, initially climbed to $10,815/mt, then fluctuated downward and touched a low of $10,661/mt near the close, before fluctuating upward to finally settle at $10,701/mt, down 0.23%, with trading volume at 18,000 lots and open interest at 321,000 lots. SHFE copper was closed overnight.

Aluminium - Futures:Before the holiday, the most-traded alumina 2601 contract opened at 2,897 yuan/mt, hit a high of 2,889 yuan/mt and a low of 2,863 yuan/mt, and finally closed at 2,868 yuan/mt, down 10 yuan/mt or 0.35%, with open interest at 285,000 lots.

Lead - Futures: Overnight, LME lead opened at $2,010/mt. Due to the strengthening US dollar index, most nonferrous metals pulled back, and LME lead fluctuated downward throughout the day, even falling below the key $2,000/mt level at one point. It recovered some losses by the close, finally settling at $2,005.5/mt, down 0.02%.

Zinc - Futures: Overnight, LME zinc opened at $3,043/mt. After opening, it immediately touched a high of $3,047.5/mt, then fluctuated downward below the daily average line. By the end of the session, it hit a low of $2,993.5/mt and finally closed down at $2,995/mt, falling $46.5/mt, a decline of 1.53%. Trading volume increased to 118,000 lots, and open interest increased to 224,000 lots. Overnight, SHFE zinc was closed due to the holiday.

Tin - Futures: During the National Day holiday, LME tin prices generally showed an upward trend. As of October 7, LME tin closed at $36,370/mt, with a cumulative increase of 2.71% during the holiday. Prices surged significantly at the beginning of the holiday, stimulated by news of tightening supply in Indonesia, hitting a high of $37,695/mt on October 3, the highest level since early April. Although market sentiment was gradually digested later, and prices pulled back slightly from the highs, the overall trend remained strong.