Base metals close mixed on SHFE night session

The mixed close underscores divergent momentum across the base metals complex, with the non-ferrous strength in copper, zinc, nickel, and tin contrasting with softness in lead and alumina. This suggests sector-specific supply-demand dynamics rather than a uniform macro-driven move. For market watchers, the key question is whether the sustained gains in industrial metals reflect genuine physical demand pickup or speculative positioning, especially given the relative lag in aluminum. The alumina decline, despite aluminum's rise, may signal easing upstream cost pressures, which could influence downstream margins. Watching whether these divergences persist in coming sessions will clarify the underlying drivers.