📊 BASE METALS OVERNIGHT UPDATE

Advisory Bazaar Info Services LLP

🔶 Copper

* LME Copper closed at $13,806.5/mt, down 0.17%. Prices weakened through the session as fresh bearish positions increased.

* SHFE Copper (2609) settled at 105,940 yuan/mt, down 0.16%, with a decline in open interest indicating long liquidation.

🔷 Aluminum

* SHFE Aluminum closed at 23,260 yuan/mt, up 0.35%. Prices remain supported by short-term moving averages, while medium-term resistance persists. The recommended trading range is 23,000–23,500 yuan/mt.

* LME Aluminum settled at $3,181.5/mt, down 0.34%. Short-term momentum remains positive despite resistance from medium-term averages. The recommended trading range is $3,150–3,220/mt.

⚫ Lead

* LME Lead closed at $1,893/mt, up 1.34%, recovering strongly during the European session as short positions were covered.

* SHFE Lead (2609) settled at 15,820 yuan/mt, up 0.60%.

🟢 Zinc

* LME Zinc closed at $3,585/mt, up 1.04%, supported by short covering in late trade.

* SHFE Zinc (2609) settled at 24,765 yuan/mt, up 0.98%, with higher open interest indicating fresh buying.

⚪ Tin

* SHFE Tin (2608) declined 0.23%, tracking weakness in LME tin during the overnight session.

Market View: Copper remained under pressure due to fresh selling, while lead and zinc extended gains on short covering and buying interest. Aluminum continues to show short-term strength, though medium-term resistance remains intact.