*Base Metal Overnight Update*

Advisory Bazaar Info Services

🔶 Copper Futures

Overnight, LME copper opened at $13,576.5/mt and dipped to $13,554.5/mt in early trade. Prices later moved higher throughout the session, touching an intraday high of $13,747/mt near the close and finally settled at $13,746.5/mt, up 1.71%. Trading volume stood at 21,000 lots, while open interest increased by 5,289 lots to 276,000 lots, indicating fresh long additions.

The most-traded SHFE Copper 2607 contract opened at 104,450 yuan/mt and initially declined to 104,100 yuan/mt before rebounding sharply. The contract touched 105,290 yuan/mt and closed at 105,270 yuan/mt, up 1.17%. Trading volume stood at 41,000 lots, while open interest declined slightly by 310 lots to 177,000 lots, indicating short covering.

🔶 Aluminum Futures

LME aluminum opened at $3,625/mt and closed at $3,681/mt, up 1.47%, extending its strong rebound trend. Prices remained above all major moving averages, with bullish momentum supported by continued long additions.

The most-traded SHFE aluminum contract opened at 24,350 yuan/mt during the night session and closed at 24,385 yuan/mt, up 0.41%. Prices rebounded and moved back above the MA5 level, though they continue to trade below medium- and long-term moving averages, keeping the broader trend weak. Open interest increased by 929 lots, indicating fresh buying interest at lower levels.

🔶 Lead

Overnight, LME lead opened at $2,000/mt and remained volatile during the session. After dipping to $1,990.5/mt, prices recovered strongly and settled at $2,019/mt, up 0.9%.

The most-traded SHFE Lead 2607 contract opened lower at 16,560 yuan/mt, touched a low of 16,505 yuan/mt, and finally closed at 16,570 yuan/mt, down 0.15%.

🔶 Zinc Futures

LME zinc opened at $3,509.5/mt and gained momentum during the session, closing at $3,558/mt, up 1.44%. Trading volume increased, while open interest declined slightly.

The most-traded SHFE Zinc 2607 contract opened at 24,725 yuan/mt and steadily moved higher to close at 24,900 yuan/mt, up 0.89%.

🔶 Nickel

The most-traded SHFE Nickel 2607 contract witnessed volatile trade and settled at 143,670 yuan/mt, up 0.09%.

🔶 Tin Futures

The most-traded SHFE tin contract opened slightly higher and continued its upward momentum, closing at 430,260 yuan/mt, up 2.59%.