BASE METALS UPDATE
Advisory Bazaar Info Services
Copper (Futures):
LME copper opened overnight at $10,886.5/mt. Prices initially moved up to a high of $11,000/mt, then fluctuated lower to a low of $10,760.5/mt, finally closing at $10,776.5/mt, up 0.71%. Trading volume stood at 45,000 lots, and open interest reached 319,000 lots.
The most-traded SHFE copper (2511) contract opened at 87,400 yuan/mt, touched a high of 88,090 yuan/mt, then eased down to 86,480 yuan/mt before settling at 86,650 yuan/mt, up 0.86%. Trading volume totaled 114,000 lots, with open interest at 219,000 lots.
Aluminum (Futures):
The most-traded SHFE aluminum (2511) contract opened at 21,110 yuan/mt, reached a high of 21,205 yuan/mt, and a low of 21,100 yuan/mt, closing at 21,100 yuan/mt, up 0.05% from the previous close. Trading volume was 81,000 lots, and open interest 205,000 lots.
LME aluminum opened at $2,749/mt, hit a high of $2,807.5/mt, a low of $2,746/mt, and closed at $2,782.5/mt.
Lead (Futures):
LME lead opened at $2,002.5/mt and held firm during the session, rising to an intraday high of $2,034/mt before closing at $2,020.5/mt, up 0.75%.
The most-traded SHFE lead (2511) contract opened at 17,135 yuan/mt and, supported by strong LME performance and domestic destocking, rose to 17,165 yuan/mt before fluctuating between 17,100–17,140 yuan/mt. It finally settled at 17,115 yuan/mt, up 0.44%, with open interest increasing by 1,692 lots to 42,769 lots.
Zinc (Futures):
LME zinc opened at $2,991/mt, moved up to $3,080/mt, and later reversed to close at $3,014/mt, up $19/mt (0.63%). Trading volume rose to 22,259 lots, while open interest fell by 4,049 lots to 220,000 lots.
The most-traded SHFE zinc (2511) contract opened higher at 22,465 yuan/mt, touched 22,515 yuan/mt, and retreated slightly to close at 22,335 yuan/mt, up 135 yuan/mt (0.61%). Trading volume stood at 9,753 lots, with open interest down 4,768 lots to 108,000 lots.
Tin (Futures):
The most-traded SHFE tin (2511) contract opened at 289,500 yuan/mt, maintained a high-level sideways movement, and closed at 287,400 yuan/mt, up 0.82% from the previous trading day.