*Base Metal Overnight Update*

Advisory Bazaar Info Services

Copper:

LME copper opened at $13,383.5/mt and remained volatile before closing at $13,380/mt, up 0.27%. Open interest declined, indicating short covering (bear liquidation). SHFE copper 2608 also closed higher at 102,880 yuan/mt, up 0.38%, with a drop in open interest reflecting further short covering.

Aluminum:

SHFE aluminum closed at 22,610 yuan/mt, up 0.11%. Prices remain below all major moving averages, maintaining a bearish trend. MACD still signals weakness, though selling pressure eased slightly. Suggested trading range: 22,400–22,800 yuan/mt.

LME aluminum closed at $3,095/mt, down 0.32%. Prices continue to trade below key moving averages, confirming a weak outlook. Suggested trading range: $3,080–3,130/mt.

Lead:

LME lead closed at $1,872/mt, down 1.08%, after losing momentum during the European session. SHFE lead 2608 settled at 15,975 yuan/mt, down 0.47%. Trading volume increased slightly, but the overall trend remains weak after the recent rise.

Zinc:

LME zinc showed strong gains, closing at $3,551.5/mt, up 1.85%, supported by fresh buying interest. SHFE zinc 2608 also closed higher at 24,585 yuan/mt, up 0.97%, with increased open interest indicating fresh bullish positions.

Market View:

Copper and zinc remained firm with buying support, while aluminum and lead continue to show weakness. Traders should watch key support and resistance levels closely.