BASE METAL OVERNIGHT UPDATE

Advisory Bazaar Info Services

🔹 Copper Futures

* LME Copper opened at $14,320/MT, touched a high of $14,343 and a low of $14,122, before closing at $14,130.5/MT, down 0.30%.

* Trading volume rose to 24,000 lots, while open interest increased by 904 lots to 270,000, indicating fresh short positions.

* SHFE Copper 2609 opened at ¥108,840/MT, hit a high of ¥108,860 and a low of ¥107,740, before closing at ¥108,070/MT, down 0.84%.

* Volume increased to 52,500 lots, while open interest fell by 11,525 lots to 199,000, indicating long liquidation.

🔹 Aluminium Futures

* SHFE Aluminium opened at ¥24,015/MT and settled at ¥23,935/MT, down 0.33%.

* Prices remained under pressure after testing short-term moving averages. Open interest fell sharply, indicating long liquidation.

* LME Aluminium settled at $3,259.5/MT, up 0.45%, after finding support near the MA20.

* Open interest edged higher, indicating fresh long positions, although bullish momentum weakened marginally.

🔹 Lead Futures

* LME Lead opened at $1,885.5/MT and closed at $1,885/MT, up $5.5 or 0.29%.

* SHFE Lead 2610 opened at ¥15,880/MT and closed at ¥15,875/MT, down ¥75 or 0.47%.

🔹 Zinc Futures

* LME Zinc opened at $3,765/MT, touched $3,790 and a low of $3,737, before closing at $3,758/MT, down 0.11%.

* Open interest increased by 3,703 lots to 258,000, indicating fresh short positioning.

* SHFE Zinc 2610 closed at ¥25,770/MT, down ¥95 or 0.37%. Open interest increased by 3,755 lots to 148,000.

🔹 Tin Futures

* LME 3-Month Tin closed at $55,800/MT, down $225 or 0.40%, after trading between $55,500–$56,100/MT.

* After the PPI-related boost was largely priced in, bulls rotated positions at higher levels, leading to mild profit-taking.

* SHFE Tin 2609 opened at ¥428,000/MT on August 18, down 0.28% from the previous close. It traded between ¥427,400–¥429,500/MT, with the opening level of ¥428,000 acting as the short-term morning pivot.