📊 Base Metal Overnight Update

Advisory Bazaar Info Services

🔶 Copper

* LME Copper opened at $13,857/mt and settled at $13,905.5/mt, gaining 1.91% after touching an intraday high of $13,934/mt. Buying interest remained strong, with higher open interest indicating fresh long positions.

* SHFE Copper (2609) closed at 106,600 yuan/mt, up 1.69%, supported by aggressive long-position building.

🔶 Aluminium

* SHFE Aluminium settled at 23,185 yuan/mt, up 0.56%. Prices remained above the 5-day and 10-day moving averages but below the 30-day and 60-day averages, indicating short-term strength within a medium-term bearish trend. Recommended trading range: 23,000–23,500 yuan/mt.

* LME Aluminium closed at $3,169.5/mt, up 0.25%. Technical indicators showed improving short-term momentum, while medium-term resistance remains intact. Recommended trading range: $3,150–3,200/mt.

🔶 Lead

* LME Lead closed at $1,868/mt, down 0.48%, as selling pressure emerged after prices touched $1,890/mt.

* SHFE Lead (2609) ended at 15,715 yuan/mt, down 1.07%, making lead the weakest performer among base metals.

🔶 Zinc

* LME Zinc settled at $3,548/mt, up 0.94%, supported by strong buying during European trading before profit-booking capped gains.

* SHFE Zinc (2609) closed at 24,535 yuan/mt, up 0.55%, with prices remaining firm despite lower trading volumes.

🔶 Tin

* LME Tin closed at $54,105/mt, gaining 1.53% after testing resistance near $54,200/mt. Continued inventory drawdowns and high cancelled warrants supported prices.

* SHFE Tin (2609) rose 1.02%, tracking the strength in the LME market.

📌 Market Highlights

* Copper led the gains across the base metals complex, supported by fresh long-position building.

* Aluminium showed improving short-term technical strength, though medium-term resistance remains.

* Zinc and Tin continued to trade firm.

* Lead remained under pressure and was the only major base metal to close lower.