Crude oil closes higher, metals nearly all fall, NY silver plunges, LME/SHFE zinc, tin, nickel, LME copper, aluminum, SHFE gold, silver lead losses [Overnight Market]

SMM October 23 news:

In the metals market:

Overnight, base metals on both domestic and overseas markets mostly fell, with only SHFE lead rising, up 0.25%. On the overseas market, LME zinc and LME tin both fell more than 2%, with LME zinc down 2.24% and LME tin down 2.44%. LME copper, LME aluminum, LME nickel, as well as SHFE zinc, SHFE tin, and SHFE nickel all fell more than 1%, with LME copper down 1.8%, LME aluminum down 1.17%, LME nickel down 1.47%, domestic SHFE zinc down 1.48%, SHFE tin down 1.01%, and SHFE nickel down 1.19%. The remaining metals all fell within 1%. Alumina main contract fell 1.31%, and cast aluminum main contract fell 1.27%.

Overnight, ferrous metals mostly fell, with only coking coal and coke rising together, coking coal up 1.32% and coke up 0.13%. Stainless steel fell 0.84%, rebar fell 0.62%, and hot-rolled coil fell 0.4%. Iron ore edged down 0.07%.

Overnight in precious metals, COMEX gold fell 2.66%, and COMEX silver plunged 5.34%, hitting an intraday low of $54.53/oz, the lowest since November 2025. Domestically, SHFE gold fell 1.88%, and SHFE silver fell 3.86%.

Overnight closing prices as of 6:39 a.m. on October 23: