📊 Base Metal Overnight Update

Advisory Bazaar Info Services

🔹 Copper Futures

Overnight, LME Copper opened at $12,885/mt, slipped to a low of $12,825/mt, then recovered strongly to touch a high of $13,028/mt before a mild correction. Prices finally closed at $12,987/mt, up 1.28%.

Trading volume stood at 21,000 lots, while open interest rose by 2,567 lots to 327,000 lots, largely driven by fresh long positions.

The most-traded SHFE Copper 2603 contract opened at ¥101,030/mt, dipped to ¥99,620/mt, and then rallied sharply. Near the session close, prices touched a high of ¥102,000/mt and finally settled at ¥101,680/mt, up 1.02%.

Trading volume was 79,000 lots, with open interest increasing by 3,115 lots to 221,000 lots, indicating continued long buildup.

🔹 Aluminum Futures

LME Aluminum closed at $3,165.5/mt, up 1.12%, holding firmly above short-term moving averages. MACD indicators show weakening bearish momentum and early signs of a bullish shift.

Core trading range: $3,140 – 3,200/mt

SHFE Aluminum closed the night session at ¥24,225/mt, up 1.06%. Prices moved higher above key moving averages (MA5: 24,221 | MA10: 24,126.5), reflecting technical strength.

MACD remains above the zero line, suggesting bullish momentum is gradually recovering.

🔹 Lead Futures

Overnight, LME Lead opened at $2,048.5/mt. After early volatility and a dip to $2,039.5/mt, prices rebounded strongly, touching a high of $2,065/mt, and closed at $2,064.5/mt, up $26.5/mt (+1.3%).

The most-traded SHFE Lead contract opened at ¥17,250/mt, slipped to ¥17,195/mt, then recovered to ¥17,275/mt. Prices later weakened slightly and closed flat at ¥17,250/mt, down ¥10/mt (-0.06%).

🔹 Tin Futures

The most-traded SHFE Tin (SN2602) contract opened marginally lower during the night session but rallied strongly thereafter. Prices fluctuated upward and closed at ¥397,040/mt, up 2.58%.