*Base Metal Update*

Advisory Bazaar Info Services

Copper – Futures:

LME copper opened at $11,674/mt overnight. Prices moved higher in early trade, touching a high of $11,890.5/mt, before slipping to a low of $11,644/mt. After volatile movements, it finally settled at $11,686/mt, up 1.16%. Trading volume stood at 23,200 lots, while open interest was 351,000 lots.

The most-traded SHFE copper 2602 contract opened at 93,500 yuan/mt, rose to 93,820 yuan/mt, and later declined to a low of 92,250 yuan/mt. It closed at 92,480 yuan/mt, down 0.18%. Trading volume reached 91,500 lots, with open interest at 222,000 lots.

Aluminum – Futures:

During the night session on December 15, the most-traded SHFE aluminum 2602 contract opened at 21,955 yuan/mt, hit a high of 21,970 yuan/mt and a low of 21,840 yuan/mt, before closing at 21,865 yuan/mt, down 55 yuan/mt or 0.25%.

LME aluminum opened at $2,869/mt, traded between $2,889/mt and $2,859.5/mt, and closed at $2,875/mt, unchanged from the previous session. Trading volume declined to 18,900 lots, while open interest fell to 695,000 lots.

Lead – Futures:

LME lead opened at $1,969.5/mt and traded sideways during the Asian session before declining in European trade to a low of $1,939/mt. It recovered marginally and closed at $1,946.5/mt, down 0.99%, breaking below the five-day moving average and forming a strong bearish candle.

The most-traded SHFE lead 2601 contract opened with a gap down at 17,015 yuan/mt, broke below the 17,000 yuan/mt level, and moved between 16,910–16,840 yuan/mt. It settled at 16,875 yuan/mt, down 1.14%, finding support near the lower Bollinger Band.

Zinc – Futures:

LME zinc opened at $3,135.5/mt and briefly rose to $3,165/mt before selling pressure dragged prices down to $3,087.5/mt. It closed at $3,095/mt, down 1.40%. Trading volume declined to 15,151 lots, while open interest rose by 12,493 lots to 236,000 lots.

The most-traded SHFE zinc 2601 contract opened at 23,310 yuan/mt, touched a high of 23,345 yuan/mt, and later settled at 23,215 yuan/mt, down 0.92%. Trading volume dropped to 66,013 lots, while open interest decreased to 82,155 lots.

Nickel – Futures:

The most-traded SHFE nickel 2601 contract witnessed a sharp correction in the night session, breaking below the 114,000 yuan/mt level. It closed at 112,070 yuan/mt, down 2.55%.

Tin – Futures:

The most-traded SHFE tin (SN2601) contract opened slightly higher but later declined, closing at 324,850 yuan/mt, down 1.88% from the previous trading session.