[Batch Limit Up, High-End MLCC Ceramic Powder Expected to See Both Volume and Price Increases]

[US-Iran Peace Agreement Boosts Market Sentiment, SHFE Zinc Hovers at Highs] The most-traded SHFE zinc 2608 contract opened at 24,715 yuan/mt. After the opening, SHFE zinc fluctuated higher, dipping to 24,715 yuan/mt at the start and reaching a high of 24,930 yuan/mt near the close. It finally closed up at 24,875 yuan/mt, gaining 205 yuan/mt or 0.83%. Trading volume increased by 7,651 lots to 43,398 lots, and open interest rose by 1,372 lots to 79,180 lots.....

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, SHFE copper prices are expected to rise intraday and remain at a relatively high level. Coupled with the futures contract rollover, trading activity is likely to be muted, reflecting that the current price level is significantly suppressing real demand. After the rollover, the market will officially price around the 2607 contract, and close attention should be paid to the outflow of unmatched warrants. However, open interest for the SHFE copper 2606 contract currently stands at approximately 5,500 lots, indicating limited delivery participation. The concentrated release of warrants is therefore expected to exert relatively limited additional pressure on spot discounts. Supported by delivery-related dynamics, Shanghai spot copper discounts did not see a sharp decline. But if copper prices remain at current highs and demand fails to improve effectively, spot premiums may come under downward pressure.