📌 Base Metal Overnight Update

Advisory Bazaar Info Services

🔹 Copper Futures

• LME Copper: Opened at $13,230/mt, touched a high of $13,481.5/mt, then declined to a low of $12,845/mt before settling at $13,070.5/mt, down 4.63%.

• Volume: 29,000 lots (↑ 2,143) | Open Interest: 330,000 lots (↓ 1,761) — mainly due to long liquidation.

• SHFE Copper 2603: Opened at 104,200 yuan/mt, hit a high of 105,080 yuan/mt, slipped to a low of 102,700 yuan/mt, and closed at 103,190 yuan/mt, down 4.75%.

• Volume: 183,000 lots (↓ sharply) | Open Interest: 219,000 lots (↓ 4,081) — bulls reduced positions.

🔹 Aluminum Futures

• LME Aluminum: Opened at $3,240/mt, high $3,241, low $3,057, closed at $3,135.5/mt, down 3.03%.

• Volume: 58,000 lots | Open Interest: 701,000 lots (↑ 693).

• SHFE Aluminum 2603 (Night Session – Jan 30): Opened at 24,365 yuan/mt, high 24,720, low 24,240, closed at 24,600 yuan/mt, up 40 yuan (+0.16%).

• Open Interest: 275,000 lots (↓ 9,950).

🔹 Lead Futures

• LME Lead: Opened at $2,009.5/mt, declined amid capital outflows, hit a one-month low of $1,980/mt, and closed at $1,995/mt, down 0.8%.

• SHFE Lead 2603: Opened at 16,915 yuan/mt, failed to sustain above 17,000, traded weak in the range 16,900–16,950, and closed at 16,940 yuan/mt, down 0.79%.

• Open Interest: 54,468 lots (↓ 2,012).

🔹 Zinc Futures

• LME Zinc: Opened at $3,420/mt, high $3,423.5, low $3,336.5, closed at $3,370/mt, down 2.40%.

• Volume: 142,000 lots | Open Interest: 239,000 lots (↑ 5,365).

• SHFE Zinc 2603: Opened at 25,735 yuan/mt, low 25,520, high 25,905, closed at 25,775 yuan/mt, down 0.23%.

• Volume: 172,000 lots | Open Interest: 102,000 lots (↓ 3,467).

🔹 Tin Futures

• SHFE Tin 2603: Remained rangebound during the night session and closed at 412,260 yuan/mt, down 6.56%.