📌 *Base Metal Overnight Update*

Advisory Bazaar Info Services

🔹 Copper – Futures

• LME copper opened at $13,234.5/mt, hit a high of $13,333.5/mt, slipped to $13,152.5/mt, and finally closed at $13,254.5/mt, up 1.28%.

• Volume rose by 9,816 lots to 47,000, while OI fell by 1,517 lots to 338,000, mainly due to short covering.

• SHFE copper 2602 opened at 104,480 yuan/mt, touched 105,490 yuan/mt, and closed at 104,600 yuan/mt, up 1.46%.

• Volume dropped to 160,000 lots, and OI declined by 3,168 lots to 220,000, due to long liquidation.

🔹 Aluminium – Futures

• LME aluminium closed at $3,133.5/mt, up 1.41%, with OI rising by 3,130 lots to 685,000.

• SHFE aluminium 2602 opened at 24,280 yuan/mt, hit a high of 24,750 yuan/mt, a low of 24,210 yuan/mt, and closed at 24,695 yuan/mt, up 1.48%.

• Night session OI increased by 434 lots to 253,000 lots.

🔹 Lead – Futures

• LME lead opened at $2,022/mt, rallied strongly to $2,078/mt (near 2-month high), and closed at $2,071/mt, up 2.04%.

• SHFE lead 2602 opened at 17,530 yuan/mt, surged to 17,760 yuan/mt, and closed at 17,735 yuan/mt, up 1.28%.

• OI increased by 392 lots to 51,392 lots.

🔹 Zinc – Futures

• LME zinc opened at $3,204.5/mt, climbed to $3,268/mt, and closed at $3,245.5/mt, up 1.17%.

• Volume increased to 120,000 lots, while OI rose by 4,650 lots to 236,000.

• SHFE zinc 2602 closed at 24,385 yuan/mt, up 0.37%.

• Volume fell to 87,210 lots, and OI declined by 1,540 lots to 94,919 lots.

🔹 Nickel – Futures

• Multiple SHFE nickel contracts hit limit-up.

• SHFE nickel 2602 closed at 147,720 yuan/mt.

• LME nickel 3M touched an intraday high of $18,785/mt.

• Geopolitical concerns and Indonesia supply expectations fueled strong speculative buying, pushing SHFE nickel OI above 370,000 lots.

🔹 Tin – Futures

• SHFE tin 2602 surged past 350,000 yuan/mt, hitting a high of 359,350 yuan/mt.

• Closed at 357,260 yuan/mt, up 4.81%, supported by strong macro and geopolitical sentiment.