📊 *Base Metal Overnight Update*

Advisory Bazaar Info Services

🔶 Copper:

LME Copper last Friday opened at $12,871/mt and touched a high of $12,942/mt before declining towards the close. It settled at $12,735.5/mt, down 1.64%. Trading volume stood at 22,600 lots while open interest increased to 307,000 lots, mainly due to fresh short positions.

The most-traded SHFE Copper (Apr) contract opened at 100,520 yuan/mt and moved up to 100,760 yuan/mt initially, but later declined and closed at 99,710 yuan/mt, down 0.86%. Open interest fell by 930 lots due to long liquidation.

🔶 Aluminum:

SHFE Aluminum (May) opened at 25,130 yuan/mt and closed at 24,965 yuan/mt, down 0.42%. Technically, moving averages remain in bullish alignment, indicating a positive medium-term trend. However, short-term momentum is weakening as the 5-day moving average has started turning downward.

On the LME, Aluminum opened at $3,525/mt and closed at $3,439/mt, down 2.66%.

🔶 Lead:

LME Lead opened at $1,938/mt and gradually declined during the European session, touching a low of $1,890/mt before closing at $1,903/mt, down 1.68%.

SHFE Lead opened at 16,550 yuan/mt, touched a high of 16,565 yuan/mt, and later traded range-bound before closing at 16,395 yuan/mt, down 0.97%.

🔶 Zinc:

LME Zinc opened at $3,315.5/mt and declined during European trading to a low of $3,270.5/mt before closing at $3,293.5/mt, down 0.63%.

SHFE Zinc opened at 24,205 yuan/mt and gradually moved lower, closing at 24,080 yuan/mt, down 0.25%.

🔶 Nickel:

The most-traded SHFE Nickel (May) contract declined sharply and closed at 135,990 yuan/mt, down 1.83%.

🔶 Tin:

SHFE Tin opened slightly higher but later dropped sharply, falling near 372,860 yuan/mt and closing down 3.31%.

Overall, base metals witnessed profit booking with weak sentiment across most metals during the overnight session.