🔶 *Base Metal Overnight Update*

Advisory Bazaar Info Services

🔸 Copper Futures:

Overnight, LME copper opened at $12,398/mt and remained under pressure throughout the session, hitting a low of $12,280/mt before closing at $12,328.5/mt, down 0.16%. Trading volume stood at 16,000 lots, while open interest declined by 473 lots to 294,000 lots, indicating long liquidation.

On SHFE, the most-active copper 2605 contract opened at 96,040 yuan/mt, touched a high of 96,300 yuan/mt, and later declined to 95,540 yuan/mt, closing at 95,850 yuan/mt, down 0.74%. Open interest rose by 1,074 lots, reflecting fresh short build-up.

🔸 Aluminum Futures:

SHFE aluminum closed at 24,545 yuan/mt, down 0.43%, trading slightly below MA5 but holding near key medium-term averages (MA10, MA30, MA60), indicating short-term pressure with underlying support. MACD shows weakening bullish momentum.

👉 Expected range: 24,400 – 25,000 yuan/mt

LME aluminum closed at $3,506/mt, up 1.02%, sustaining a strong uptrend above all key moving averages with positive momentum indicators.

👉 Expected range: $3,480 – $3,550/mt

🔸 Lead:

LME lead closed at $1,939/mt, up 0.23%, after volatile trading.

SHFE lead 2605 settled at 16,755 yuan/mt, up 0.15%, showing mild strength with a small bullish candle.

🔸 Zinc Futures:

LME zinc surged 1.46% to close at $3,304/mt, supported by strong upward momentum despite minor late-session weakness.

SHFE zinc 2605 closed at 23,820 yuan/mt, up 0.38%. Open interest increased, indicating continued participation on the long side.

🔸 Tin Futures:

SHFE tin closed at 363,940 yuan/mt, slightly down 0.08%, after giving up early gains.

📊 Overall View:

Base metals showed mixed trends—zinc and aluminum remained strong, while copper saw profit booking and tin stayed range-bound.