📊 Base Metal Overnight Update

Advisory Bazaar Info Services

🔹 Copper:

LME copper settled at $13,255/mt, down 0.6%, as long liquidation weighed on prices. SHFE copper (Aug’26) closed at 102,130 yuan/mt, down 0.7%, amid fresh bearish positioning.

🔹 Aluminum:

SHFE aluminum (Aug’26) ended 0.24% lower at 23,020 yuan/mt. Prices remained above short-term support levels but continued to face resistance from medium- and long-term moving averages. Technical indicators suggest the recovery phase is intact, although long liquidation was observed.

LME aluminum closed at $3,138.5/mt, down a marginal 0.02%. Prices consolidated near recent lows, with bearish momentum showing signs of easing. Short-term trading is expected to remain range-bound.

🔹 Lead:

LME lead gained 0.19% to close at $1,891/mt. A weaker US dollar supported prices initially, but gains were capped by high inventory levels. SHFE lead slipped 0.09% to 16,050 yuan/mt.

🔹 Zinc:

LME zinc declined 1.2% to $3,528/mt as fresh selling pressure emerged. SHFE zinc also fell 0.53% to 24,535 yuan/mt, reflecting profit booking and weaker market sentiment.

🔹 Tin:

SHFE tin (Aug’26) closed at 406,260 yuan/mt, down 1.43%, with lower open interest indicating long liquidation.

📌 Market Outlook:

Base metals traded with a negative bias overnight amid profit booking and cautious sentiment. While aluminum continues to show signs of technical recovery, copper, zinc, and tin remained under pressure. Traders are expected to stay focused on global macroeconomic cues, the US dollar, and demand trends from China.