Base Metals Overnight Update

Advisory Bazaar Info Services

Copper: LME copper closed at $12,855/mt, down 2.9% with long liquidation seen in open interest. SHFE copper 2603 settled at 100,030 yuan/mt, down 2.58%, also indicating reduction in long positions.

Aluminum: SHFE aluminum closed at 23,395 yuan/mt, down 0.91%, with bearish technical indicators and key support near 23,069. Suggested range: 23,200–23,600. LME aluminum ended at $3,097.5/mt, down 0.63%, with short-term weakness. Range: $3,080–3,120.

Lead: LME lead settled at $1,984/mt, down 0.53%. SHFE lead 2604 closed slightly higher at 16,705 yuan/mt, up 0.03%.

Zinc: LME zinc closed at $3,381.5/mt, down 1.07%. SHFE zinc 2604 settled at 24,500 yuan/mt, down 0.69%, with lower volume and open interest.

Tin: SHFE tin (SN2603) dropped 4.27% to close at 376,330 yuan/mt after volatile night trading.