📌 Base Metal Market Update

Advisory Bazaar Info Services

🔹 Copper

• LME Copper: Opened at $12,921/mt, touched a high of $12,973/mt, then declined sharply to a low of $12,696/mt before closing at $12,822.5/mt, down 2.48%.

• SHFE Copper (2603): Opened at 103,030 yuan/mt, hit a high of 103,500 yuan/mt, fell to 99,620 yuan/mt, and closed at 100,280 yuan/mt, down 1.56%.

➡️ Weakness driven mainly by long position reduction.

🔹 Aluminum

• LME Aluminum: Closed at $3,132/mt with limited volatility. Short-term indicators show bearish sentiment.

• SHFE Aluminum: Closed at 23,945 yuan/mt, down 0.99%. Prices remain above key moving averages, but short-term momentum is weakening.

➡️ Expected range:

LME: $3,100–3,160/mt

SHFE: 23,700–24,100 yuan/mt

🔹 Lead

• LME Lead: Closed at $2,038/mt, down 2.79%.

• SHFE Lead: Closed at 17,230 yuan/mt, down 2.07%, tracking weakness in LME lead.

🔹 Zinc

• LME Zinc: Closed at $3,209/mt, down 3.15%; open interest increased.

• SHFE Zinc (2603): Closed at 24,405 yuan/mt, down 1.39%; open interest declined.

🔹 Tin

• SHFE Tin (SN2602): Closed at 379,600 yuan/mt, down 8.42%, showing sharp correction.