Base metals fell collectively, LME tin continued to decline, LME copper and zinc, SHFE tin, LME aluminum and lead, SHFE silver led the losses [Overnight Market]

SMM, November 3:

In the metals market:

Overnight, base metals on both domestic and overseas markets mostly fell. LME tin led the decline with a drop of as much as 4.54%. LME copper, LME zinc, and SHFE tin all fell by more than 2%, with LME copper down 2.16%, LME zinc down 2.76%, and SHFE tin down 2.95%. LME aluminum and LME lead fell by more than 1%, with LME aluminum down 1.73% and LME lead down 1.05%. The remaining metals all fell within 1%. The alumina main contract fell 0.15%, and the cast aluminum main contract fell 1.76%.

Overnight, ferrous metals mostly fell, with only hot-rolled coil and iron ore rising. Hot-rolled coil rose 0.13%, and iron ore rose 0.74%. Stainless steel and rebar saw modest fluctuations in their declines. In coking coal and coke, coking coal fell 0.98%, and coke fell 0.3%.

Overnight in precious metals, COMEX gold fell 0.74%, and COMEX silver fell 2.12%, with silver hitting an intraday low of $48.62/oz, a new low since November 2025. Domestically, SHFE gold fell 0.11%, and SHFE silver fell 1.31%.

Overnight closing prices as of 8:03 a.m. on November 4: