Base Metal Overnight Update

Advisory Bazaar Info Services LLP

Copper:

LME Copper opened at $13,613/mt and settled at $13,644.5/mt, down 0.84% after profit booking and long liquidation. SHFE Copper (2609) closed at 104,940 yuan/mt, down 0.10%, as short covering reduced open interest.

Aluminum:

SHFE Aluminum (2609) gained 0.97% to 23,445 yuan/mt, supported by strong buying interest, higher trading volume, and positive technical indicators. LME Aluminum fell 0.77% to $3,148.5/mt, as prices remained under pressure from key resistance levels despite holding a bullish MACD crossover.

 Lead:

LME Lead slipped 0.34% to $1,885.5/mt amid mixed global macro signals. SHFE Lead (2609) rose 0.26% to 15,715 yuan/mt, supported by lower exchange inventories and continued reduction in open interest.

Zinc:

LME Zinc declined 1.31% to $3,567.5/mt as selling pressure persisted. SHFE Zinc (2609) ended 0.24% lower at 24,720 yuan/mt, with both trading volume and open interest easing.

Tin:

LME Tin dropped 1.72% to $53,405/mt, erasing the previous session’s gains and confirming strong resistance above $54,000/mt. SHFE Tin (2609) also eased 0.36% to 413,500 yuan/mt as traders booked profits. However, low social inventories and tight tin ore supply continue to provide underlying support.