🔷 Base Metal Overnight Update

Advisory Bazaar Info Services

Copper:

• LME: Copper opened at $11,044/mt and hit an early high of $11,062.5/mt. Prices then moved lower, touching a low of $10,875/mt, and finally settled at $10,930/mt, down 1.44%.

• Volume: 35,000 lots

• Open Interest: 333,000 lots

• SHFE: The 2512 contract opened at 87,380 yuan/mt, hit a high of 87,450 yuan/mt, dropped to 86,530 yuan/mt, and closed at 87,270 yuan/mt, down 1.38%.

• Volume: 147,000 lots

• Open Interest: 266,000 lots

Aluminium:

The most-traded SHFE contract opened at 21,200 yuan/mt, touched a high of 21,275 yuan/mt and a low of 21,160 yuan/mt, closing at 21,265 yuan/mt, up 0.09%.

• Technicals remain bullish with MA lines aligned upward and MACD maintaining a golden cross.

• Expected resistance: 21,350–21,550

• Support: 20,650–20,850

Lead:

• LME: Lead opened at $2,023/mt and traded in a narrow range early, later rising on positive US-China sentiment, but surrendered gains to close at $2,022/mt, up 0.15%.

• SHFE: The 2512 contract opened at 17,355 yuan/mt, touched 17,475 yuan/mt on optimism, but eased to close at 17,375 yuan/mt, up 0.09%.

• Open Interest: 69,368 lots (+81 lots)

Zinc:

• LME: Zinc opened at $3,066.5/mt, fluctuated lower to $3,022/mt, and ended at $3,044.5/mt, down 0.83%.

• Volume: 10,419 lots

• Open Interest: 222,000 lots (+1,045 lots)

• SHFE: The 2512 contract opened at 22,280 yuan/mt, traded up to 22,390 yuan/mt, and closed at 22,390 yuan/mt, up 0.11%.

• Volume: 45,774 lots

• Open Interest: 119,000 lots (-1,108 lots)

Tin:

• SHFE: The most-traded SN2512 contract remained subdued, closing at 282,840 yuan/mt, down 0.65%.