Base Metal Overnight Update

Advisory Bazaar Info Services

🔹 Copper: LME copper opened at $12,714.5/mt and initially moved up to $12,715/mt, but later declined sharply and closed at $12,340/mt, down 3.44%. Trading volume stood at 33,600 lots, while open interest fell by 4,872 lots to 288,300 lots, mainly due to long liquidation.

The most-traded SHFE Copper 2605 contract opened near 98,000 yuan/mt, dropped to a low of 95,920 yuan/mt, and finally settled at 96,340 yuan/mt, down 2.58%.

🔹 Aluminum: SHFE Aluminum 2605 contract opened at 24,800 yuan/mt and closed at 24,835 yuan/mt, up 0.14%. Technically, short-term momentum has weakened, but the medium-term trend remains bullish.

LME aluminum opened at $3,370/mt and closed at $3,419.5/mt, gaining 1.63%.

🔹 Lead: LME lead opened at $1,928.5/mt and settled at $1,913/mt, down 0.67%.

SHFE Lead 2605 contract opened at 16,590 yuan/mt and closed at 16,585 yuan/mt, down 0.39%.

🔹 Zinc: LME zinc opened at $3,220.5/mt and closed at $3,132.5/mt, falling 3.11%.

SHFE Zinc 2605 contract opened at 23,110 yuan/mt and settled at 23,010 yuan/mt, down 1.43%.

🔹 Tin: The most-traded SHFE tin contract opened sharply lower in the night session and continued to trade at lower levels, closing at 357,660 yuan/mt, down 3.39%.