[9:35 am, 7/7/2026] Advisory Bazaar: 📊 Base Metal Overnight Update

Advisory Bazaar Info Services

🔶 Copper:

LME Copper settled at $13,411/mt, up 0.40%, supported by short covering as open interest declined. SHFE Copper (2608) closed at 102,090 yuan/mt, marginally higher, with lower open interest indicating bear position reduction.

🔶 Aluminum:

LME Aluminum closed at $3,113/mt, up 0.74%, while SHFE Aluminum (2608) settled at 22,900 yuan/mt, up 0.07%. Prices recovered from recent lows with short covering, but the medium- to long-term trend remains bearish despite improving short-term momentum.

🔶 Lead:

LME Lead ended at $1,881/mt, down 0.37% as bulls trimmed positions. SHFE Lead (2608) edged up 0.03% to 15,900 yuan/mt after trading in a narrow range.

🔶 Zinc:

LME Zinc gained 0.87% to $3,579/mt on fresh buying, while SHFE Zinc (2608) rose 0.63% to 24,670 yuan/mt, supported by increased bullish positions.

🔶 Tin:

SHFE Tin (2608) remained firm, closing at 409,800 yuan/mt, up 0.35%, with open interest increasing, indicating continued buying interest.

📌 Market View:

Base metals traded mixed overnight. Copper, aluminum, zinc, and tin posted gains on short covering and selective buying, while lead remained under pressure. Although short-term sentiment has improved, the broader medium-term trend remains cautious, particularly for aluminum.