SMM, October 22:
In the metals market:
Overnight, base metals on both domestic and overseas markets mostly rose, with only LME copper, LME tin, and SHFE copper falling together. LME copper dropped 0.35%, LME tin fell 0.53%, and SHFE copper declined 0.15%. LME and SHFE nickel recorded a four-day winning streak, with LME nickel leading the gains with a surge of 4.01%, SHFE nickel rising 2.93%, SHFE aluminum up 1.44%, and the rest of the metals gaining within 1%. The alumina main contract fell 1.48%, while the cast aluminum main contract rose 1.17%.
Overnight, ferrous metals mostly declined, with stainless steel up 2.11%, iron ore down 0.59%, hot-rolled coil down 0.49%, and rebar down 0.19%. In the coking coal and coke sector, coking coal fell 0.14%, while coke rose 0.03%.
Overnight, in precious metals, COMEX gold rose 0.41%, and COMEX silver gained 0.2%. In China, SHFE gold rose 0.29%, while SHFE silver fell 0.06%.
As of 6:36 on October 22, overnight closing prices:
![Lead ingot inventories continue to destock in China and overseas; lead prices will return to fundamental-driven trends [SMM Lead Morning Meeting Summary]](https://imgqn.smm.cn/usercenter/qnyHQ20251217171721.jpeg)
![The most-traded SHFE tin contract closed at 386,270 yuan in the night session, up 0.11%, while LME tin 3M closed at $51,248, down 0.17%, consolidating and recovering under the hard constraint of low inventory [SMM Tin Morning Meeting Minutes]](https://imgqn.smm.cn/usercenter/qWcEp20251217171751.jpeg)
