📌 Base Metal Overnight Update
Advisory Bazaar Info Services
🔹 Copper:
Overnight LME copper opened at $12,960/mt and slipped to $12,792/mt in early trade. Prices later recovered and touched a high of $12,966/mt before closing at $12,859/mt, down 1.29%. Trading volume increased to 27,900 lots while open interest stood at 305,000 lots, with a reduction of 953 lots mainly due to long position liquidation.
The most-traded SHFE Copper 2604 contract opened at 100,440 yuan/mt, dipped to 100,030 yuan/mt, and later rebounded to a high of 101,410 yuan/mt, finally settling at 100,980 yuan/mt, down 0.35%. Trading volume rose to 74,300 lots while open interest declined by 5,732 lots to 195,000 lots.
🔹 Aluminum:
LME aluminum opened at $3,320/mt, hit a high of $3,400.5/mt and a low of $3,269/mt, and settled at $3,292.5/mt, down 1.29%. Trading volume was 52,923 lots while open interest increased to 669,000 lots.
SHFE Aluminum 2604 contract opened at 24,640 yuan/mt, touched a high of 24,830 yuan/mt and a low of 24,280 yuan/mt, and closed at 24,435 yuan/mt, down 380 yuan (-1.53%).
Open interest in the night session dropped by 14,889 lots to 237,000 lots.
🔹 Lead:
LME lead opened at $1,960.5/mt and traded lower amid bearish macro sentiment, moving mostly within $1,938–1,948/mt range and closing at $1,943.5/mt, down 0.94%.
SHFE Lead 2604 contract opened at 16,775 yuan/mt and remained sluggish around 16,700 yuan/mt. It finally closed at 16,715 yuan/mt, down 0.62%. Open interest edged down to 59,341 lots.
🔹 Zinc:
LME zinc opened at $3,330/mt and gradually declined as bulls reduced positions. Prices closed at $3,230/mt, down $89 (-2.68%). Trading volume increased to 14,767 lots while open interest fell to 220,000 lots.
SHFE Zinc 2604 contract opened at 24,400 yuan/mt and continued to weaken during the session, closing at 24,180 yuan/mt, down 465 yuan (-1.89%). Trading volume declined to 68,346 lots while open interest rose to 86,966 lots.
🔹 Tin:
The most-traded SHFE Tin contract opened slightly lower in the night session, fluctuated with mild recovery during the session, and finally closed at 394,100 yuan/mt, down 1.59%.