📌 *Base Metal Overnight Update*
Advisory Bazaar Info Services
🔶 Copper Futures
â–ª LME Copper opened at $13,390/mt, which was also the session high. Prices gradually moved lower, touching an intraday low of $13,072/mt and finally closing at $13,084.5/mt, down 1.59%.
â–ª Trading volume stood at 27,800 lots, while open interest declined by 3,474 lots to 312,000 lots, mainly due to long liquidation.
â–ª SHFE Copper 2604 opened at 103,320 yuan/mt and peaked at 103,630 yuan/mt. Prices later slipped to a low of 102,250 yuan/mt and settled at 102,280 yuan/mt, down 1.23%.
â–ª Trading volume was 69,800 lots, with open interest down by 979 lots to 199,000 lots, largely due to long position reduction.
🔶 Aluminum Futures
â–ª LME Aluminum opened at $3,169/mt, touched a high of $3,254/mt and a low of $3,160/mt, and closed at $3,185/mt, up 1.38%.
â–ª Trading volume increased sharply to 44,389 lots, while open interest fell by 10,749 lots to 667,000 lots.
â–ª SHFE Aluminum 2604 opened at 24,500 yuan/mt, hit a high of 24,600 yuan/mt and a low of 24,125 yuan/mt, and closed at 24,195 yuan/mt, down 270 yuan/mt (-1.1%).
â–ª Open interest declined by 5,239 lots to around 273,000 lots.
🔶 Lead Futures
â–ª LME Lead opened at $1,962/mt and mostly traded in the $1,970–1,980/mt range. It later weakened during the European session and closed at $1,961/mt, up 0.05%.
â–ª SHFE Lead 2604 opened at 16,945 yuan/mt. Supported by declining lead ingot inventory, prices touched a one-month high of 17,020 yuan/mt before easing. It finally closed at 16,905 yuan/mt, up 0.42%.
â–ª Open interest fell by 1,657 lots to 62,305 lots.
🔶 Zinc Futures
â–ª LME Zinc opened at $3,327/mt and surged to $3,388/mt before profit-booking dragged prices lower. It closed at $3,307.5/mt, marginally down 0.02%.
â–ª Trading volume rose to 16,398 lots, while open interest slipped by 151 lots to 226,000 lots.
â–ª SHFE Zinc 2604 opened at 24,890 yuan/mt and later declined to close at 24,525 yuan/mt, down 65 yuan/mt (-0.26%).
â–ª Trading volume stood at 94,800 lots, with open interest down by 198 lots to 95,432 lots.
🔶 Tin Futures
â–ª SHFE Tin (Most-Traded Contract) traded lower during the night session, falling to around 415,000 yuan/mt and closing at 416,600 yuan/mt, down 7.16%.