SMM Morning Comments

Category:-Metal | 19-Apr-2024 09:41 AM

Copper - LME copper prices opened at $9691/mt and closed at $9743/mt in overnight trading, a gain of 2.04%, with the low-end of $9641/mt and the high-end of $9774/mt. Trading volume was 34,000 lots, and open interest stood at 333,000 lots. The most active SHFE 2406 copper contract prices opened at 78900 yuan/mt and closed at 79050 yuan/mt last evening, up 1.78%, with the high-end of 79250 yuan/mt and the low-end of 78200 yuan/mt. Trading volumes stood at 98,000 lots and open interest stood at 210,000 lots.

Aluminum - Overnight, the most-traded SHFE 2406 aluminum contract opened at 20,475 yuan/mt, with high and low at 20,490 yuan/mt and 20,265 yuan/mt before closing at 20,380 yuan/mt, down 5 yuan/mt or 0.02%. LME aluminum opened at $2,570/mt in the previous trading day, with its high and low at $2,620/mt and $2,561.5/mt respectively before closing at $2,610/mt, up $23/mt or 0.89%.

Lead - LME lead opened at $2160.5/mt last evening and rose by 0.71% to close at $2183.5/mt, with the lowest point at $2149.5/mt and the highest point at $2192/mt. The most active SHFE 2406 lead contract opened at 17120 yuan/mt and rose 1.29% to close at 17215 yuan/mt, after briefly hitting a high point at 17265 yuan/mt and the lowest point at 17065 yuan/mt.

Zinc - Overnight, LME zinc opened at US$2,810/ton, reaching a high of US$2,850/ton. Entering the night trading period, LME zinc fell rapidly and tested as low as US$2773.5/ton. It rose slightly at the end of the day and finally closed down at US$2815/ton, down US$10.5/ton, a decrease of 0.37%. The trading volume decreased by 224 lots to 12,257 lots, and positions increased by 1,609 lots to 239,000 lots.

Nickel - On Thursday, the most-traded SHFE nickel contract opened at 136,790 yuan/mt, and closed at 138,270 yuan/mt, up 2,170 yuan/mt compared with the last trading day. Trading volume fell by 24,327 lots to 160,258 lots, and open interest decreased by 1,597 lots to 53,384 lots. 

Tin - SHFE 2405 tin contract went up, closing at 266,670 yuan/mt, up 3.36%.


Follow Us