📊 Base Metal Overnight Update

Advisory Bazaar Info Services LLP

🔶 Copper

* LME Copper opened at $13,490/MT, touched a low of $13,453.1/MT and a high of $13,520/MT, before closing at $13,484.5/MT, up 0.03%. Open interest increased by 762 lots to 248,000 lots, indicating fresh long positions.

* SHFE Copper (2608) opened at 103,540 yuan/MT, hit a high of 103,960 yuan/MT and a low of 103,400 yuan/MT, before settling at 103,790 yuan/MT, up 0.08%. Open interest declined by 1,953 lots to 147,000 lots, mainly due to short covering.

🔶 Lead

* LME Lead opened at $1,896/MT and closed at $1,898/MT, gaining 0.18% and extending its winning streak to four consecutive sessions.

* SHFE Lead (2608) opened at 16,045 yuan/MT. Supported by stronger LME prices, it briefly approached 16,100 yuan/MT before easing amid uncertainty over the sustainability of lead ingot destocking. It finally settled at 16,030 yuan/MT, up 0.03%, with open interest down 673 lots to 70,447 lots.

🔶 Zinc

* LME Zinc opened at $3,616.5/MT, touched a high of $3,637.5/MT and a low of $3,580/MT, before closing at $3,611.5/MT, down 0.12%. Open interest declined by 469 lots to 268,000 lots.

* SHFE Zinc (2608) opened at 24,790 yuan/MT, hit a high of 24,945 yuan/MT, and settled unchanged at 24,865 yuan/MT. Open interest fell by 1,143 lots to 82,938 lots.

🔶 Tin

* SHFE Tin remained highly volatile during the week, trading in the 406,000–418,000 yuan.

📌 Market Outlook: Base metals are expected to remain volatile this week as traders closely monitor global macroeconomic data, US Fed policy expectations, and geopolitical developments.