📌 *Base Metals Overnight Update*
Advisory Bazaar Info Services
🔹 Copper
LME copper opened at $13,117/mt, hit a high of $13,141/mt, then declined to a low of $12,833/mt before settling at $12,866/mt (â–¼2.93%). The decline was largely driven by long liquidation, with volume and open interest falling.
SHFE Copper 2602 closed at 102,030 yuan/mt (â–¼1.98%) after failing to sustain early highs, also on long liquidation.
🔹 Aluminum
LME aluminum closed at $3,083.5/mt (â–¼1.60%) amid reduced trading volumes.
SHFE Aluminum 2602 settled at 24,135 yuan/mt (â–¼0.92%). Despite the correction, the technical structure remains bullish with MA alignment and positive MACD. Open interest declined, indicating profit booking.
🔹 Lead
LME lead briefly touched a two-month high of $2,086/mt but pared gains to close at $2,058.5/mt (â–¼0.6%) as broader metals weakened.
SHFE Lead 2602 closed at 17,650 yuan/mt (â–¼0.23%) after range-bound trade, with a slight drop in open interest.
🔹 Zinc
LME zinc declined sharply to $3,160/mt (â–¼2.63%) after European session selling pressure.
SHFE Zinc 2602 closed at 24,130 yuan/mt (â–¼0.82%), unable to recover intraday losses; open interest eased.
🔹 Nickel
FOB Indonesian MHP Nickel: $15,402/mt Ni
FOB Indonesian MHP Cobalt: $48,065/mt Co
MHP payables remain firm at 94–95 (Ni) and 92 (Co).
FOB Indonesian high-grade nickel matte: 15,732 yuan/mt Ni.
🔹 Tin
SHFE Tin 2602 failed to sustain levels near 360,000 yuan/mt and closed at 355,170 yuan/mt (â–¼0.28%). The impact of recent macro developments remained limited.