SMM Morning Comments

Category:-Metal | 26-Apr-2024 09:03 AM

Copper - LME copper prices opened at $9902/mt and closed at $9900/mt last evening, up 1.12%, with the highest of $9958/mt and the lowest of $9736/mt. Trading volume was 28,000 lots, and open interest stood at 332,000 lots. The most active SHFE 2406 copper contract prices opened at 80660 yuan/mt and closed at 79810 yuan/mt last evening, up 0.62%, with the high-end of 80780 yuan/mt. Trading volumes stood at 89,000 lots and open interest stood at 198,000 lots.

Aluminum - Overnight, the most-traded SHFE 2406 aluminum contract opened at 20,515 yuan/mt, with its lowest and highest at 20,355 yuan/mt and 20,530 yuan/mt before closing at 20,375 yuan/mt, up 40 yuan/mt or 0.2%. LME aluminum opened at $2,585/mt yesterday, with its high and low at $2,612/mt and $2,560.5/mt respectively before closing at $2,571/mt, down $13/mt or 0.5%.

Lead - LME lead opened at $2200/mt last evening and rose by 0.34% to close at $2210/mt, with the lowest point at $2186.5/mt and the highest point at $2219/mt. The most traded SHFE 2406 lead contract opened at 17160 yuan/mt and fell 0.12% to close at 17095 yuan/mt overnight, briefly hitting a high point at 17215 yuan/mt and the lowest point at 17060 yuan/mt.

Zinc - Last evening, LME zinc prices opened at $2790/mt and went up to close at $2849.5/mt, up $55/mt or 1.97%, with the high-end of $2893.5/mt. Trading volume increased to 11156 lots, and open interest decreased 629 lots to 244,000 lots. The most active SHFE 2406 zinc opened at 23000 yuan/mt and rose 115 yuan/mt or 0.51% to close at 22665 yuan/mt last evening, with the high-end of 23010 yuan/mt and the low-end of 22620 yuan/mt. Trading volumes increased to 129,000 lots and open interest fell 3239 lots to 104,000 lots.

Nickel - On Thursday, the most-traded SHFE nickel contract opened at 143,000 yuan/mt, and closed at 143,820 yuan/mt, up 830 yuan/mt compared with the last trading day. Trading volume fell by 37,718 lots to 269,417 lots, and open interest increased by 3,246 lots to 96,926 lots. 

Tin - Overnight, SHFE 2405 tin contract moved downwards after opening higher, closing at 260,350 yuan/mt, up 2.09%.


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