LME copper prices opened at $8215/mt and closed at $8309/mt in last Friday trading, a gain of 0.83%, with the low-end of $8183.5/mt and the high-end of $8311.5/mt. Trading volume was 17,000 lots, and open interest stood at 263,000 lots.

LME zinc prices opened at $2574.5/mt last Friday and touched an intraday high of $2587/mt, with the low-end of $2540/mt. It closed down $15/mt or 0.58% at $2559/mt Trading volumes decreased to 10909 lots, with open interest rising 1046 lots to 205,000 lots.

LME zinc inventories increased by over 50,000 mt to 142,775 mt this week amid large quantities of deliveries to LME warehouses. Meanwhile, the contango of LME cash to the three-month zinc contract pointed to sluggish oversea demand. There may be additional deliveries to LME warehouses in the near term.

Overnight, LME zinc closed up $73/mt or 3.02% at $2,493/mt. The trading volume was 12,717 lots, and open interest added 4,042 lots to 199,000 lots. China has promised to strengthen its policy support for the economy. Meanwhile, the confidence of US consumers has improved. And the IMF expects the global economy to grow. The market was optimistic, and most of nonferrous metals rose.

LME copper closed at $8,660/mt in overnight trading, a gain of 1.58%.