*BASE METAL OVERNIGHT UPDATE*

Advisory Bazaar Info Services

Copper: Overnight LME copper opened at $13,477/mt and touched a low of $13,436/mt before gradually moving higher to close at $13,590/mt, up 0.34%. Trading volume stood at 24,000 lots while open interest increased by 2,099 lots to 283,000 lots, indicating fresh bullish position building.

The most-traded SHFE Copper 2606 contract opened at 104,480 yuan/mt and closed at 104,590 yuan/mt, up 0.28%. Open interest declined by 3,110 lots, indicating short covering and bearish position reduction.

Aluminum: SHFE aluminum closed at 24,320 yuan/mt, up 0.48%, trading within a range of 24,250–24,395 yuan/mt. Prices remained under pressure from short-term moving averages, while MACD indicators continued to reflect bearish momentum. Trading volume declined to 49,800 lots, indicating weak rebound support. The suggested SHFE aluminum trading range is 24,000–24,500 yuan/mt.

LME aluminum closed at $3,564.5/mt, up 0.20%. Prices stayed below the 10-day moving average but above medium-term support levels. Suggested LME aluminum range is $3,530–3,590/mt.

Lead: Overnight LME lead traded in a narrow range of $1,976–1,987/mt and settled at $1,981/mt, down 0.15%, as bulls and bears remained evenly matched.

The most-traded SHFE lead contract opened higher at 16,505 yuan/mt and finally settled at 16,485 yuan/mt, up 0.06%.

Zinc: Overnight LME zinc opened at $3,531/mt and slipped to a low of $3,495.5/mt before rebounding to an intraday high of $3,554/mt. It later eased and closed at $3,515.5/mt, down 0.65%. Open interest increased by 1,071 lots, while inventories remained low, supporting short-term price fluctuations.

The most-traded SHFE Zinc 2607 contract closed at 24,690 yuan/mt, down 0.16%, with open interest rising by 1,527 lots.

Tin: The most-traded SHFE tin contract opened slightly higher and maintained gains throughout the session, closing at 410,900 yuan/mt, up 0.98%.