📊 *Base Metal Overnight Update*

Advisory Bazaar Info Services

🔶 Copper:

LME copper opened at $13,181.5/mt and dipped early to $13,139.5/mt, before steadily rising to a high of $13,305/mt. It closed at $13,296/mt, up 1.31%. Trading volume stood at 25,300 lots, while open interest fell by 2,580 lots to 289,300 lots, indicating short covering.

SHFE copper (2605) moved higher, closing at 102,150 yuan/mt, up 1.44%, with open interest down by 2,780 lots, also signaling short covering.

🔶 Lead:

LME lead closed at $1,934.5/mt, up 0.34%, after fluctuating during the session.

SHFE lead (2605) closed at 16,640 yuan/mt, slightly down by 0.09% as bulls reduced positions.

🔶 Zinc:

LME zinc rose to close at $3,340/mt, up 0.51%, supported by short covering.

SHFE zinc (2605) declined to 23,660 yuan/mt, down 0.55%, as bears increased positions during the session.

🔶 Aluminum Alloy:

The 2606 contract traded in a narrow range and remained under pressure below key moving averages. Prices hovered around the previous settlement level, indicating cautious market sentiment.

Resistance is seen near 23,800 yuan/mt, while lower levels offer support. The market is currently in a consolidation phase.

🔶 Nickel:

SHFE nickel (2605) continued its strong upward trend, closing at 141,500 yuan/mt, up 2.58%.

🔶 Tin:

SHFE tin showed upward momentum, closing at 395,060 yuan/mt after a firm night session.