📌 *Base Metal Overnight Update*

Advisory Bazaar Info Services

🔹 Copper Futures:

LME copper opened at $13,355.5/mt, touched a high of $13,398/mt and later slipped to a low of $12,949/mt, finally closing at $13,040/mt (-2.76%). Trading volume fell to 26,000 lots, while open interest rose to 332,000 lots, indicating increased bear positions.

SHFE copper (2603) opened at 104,000 yuan/mt, hit 104,700 yuan/mt and declined to 102,100 yuan/mt, closing at 102,590 yuan/mt (-2.22%). Volume dropped to 132,000 lots and open interest eased to 189,000 lots, reflecting reduced bull positions.

🔹 Aluminum Futures:

SHFE aluminum (2603) opened at 23,800 yuan/mt, reached 23,900 yuan/mt, slipped to 23,625 yuan/mt and closed at 23,690 yuan/mt (-1.11%). The short-term trend shows rebound from lows with momentum repair, but resistance near moving averages and weak volume limit upside. A sustained move above 24,000 yuan/mt is needed for further recovery. Open interest declined to 217,000 lots.

LME aluminum closed at $3,059/mt (-1.29%).

🔹 Lead Futures:

LME lead moved rangebound between $1,960–1,970/mt and closed at $1,967/mt (+0.28%), ending a six-day losing streak.

SHFE lead (2603) traded narrowly around 16,600–16,625 yuan/mt and settled at 16,620 yuan/mt (+0.12%). Open interest fell to 57,133 lots amid holiday-led low participation.

🔹 Zinc Futures:

LME zinc rose to $3,360/mt before easing to $3,293/mt and closed at $3,305.5/mt (-0.53%). Open interest edged up to 233,000 lots.

SHFE zinc (2603) peaked at 24,980 yuan/mt and slipped to 24,725 yuan/mt, ending at 24,770 yuan/mt (-0.46%). Open interest declined to 77,033 lots.

🔹 Tin Futures:

SHFE tin (SN2603) weakened after a brief rise, closing at 379,270 yuan/mt (-3.41%).