📊 *BASE METALS OVERNIGHT UPDATE*

ADVISORY BAZAAR INFO SERVICES

🔹 Copper:

LME copper opened at $13,874.5/mt and settled at $13,904/mt, up 0.86%. The rise was supported by short covering as open interest declined. SHFE copper also gained 1.11% to close at 106,320 yuan/mt, reflecting reduced bearish positions and improved market sentiment.

🔹 Aluminum:

The most-traded SHFE aluminum contract closed at 24,310 yuan/mt, down 0.29%. Prices remain below key moving averages, indicating a weak near-term outlook. The suggested trading range is 24,000–24,800 yuan/mt.

LME aluminum slipped 0.22% to close at $3,663/mt. While short-term momentum has softened, the medium-term bullish trend remains intact. The suggested trading range is $3,650–3,800/mt.

🔹 Lead:

LME lead declined 0.20% to close at $2,016.5/mt. SHFE lead also eased 0.27% to 16,430 yuan/mt. However, support from secondary lead production costs helped prices recover from intraday lows.

🔹 Zinc:

LME zinc closed 0.24% lower at $3,595/mt. In contrast, SHFE zinc gained 0.46% to settle at 24,915 yuan/mt as short covering and reduced selling pressure supported prices.

🔹 Tin:

The most-traded SHFE tin contract remained under pressure, closing at 432,200 yuan/mt, down 2.10%. Prices continue to move in a sideways-to-weak trend.

📌 Market Outlook:

Base metals traded on a mixed note overnight. Copper remained firm on short covering, zinc showed resilience, while aluminum and tin stayed under pressure. Lead recovered from lower levels due to cost support, indicating a cautious but stable market sentiment.