LME copper closes up $118 at $14,334/t

The broad advance across base metals, with tin leading gains and nickel/cobalt sliding, points to differentiated demand signals rather than a uniform risk-on bid. Copper's move, while modest, underscores tightness in supply fundamentals that market participants continue to price. The divergence between industrial metals and battery metals is notable, suggesting sector-specific dynamics at play. Whether copper can sustain momentum above recent levels, or if the pullback in nickel and cobalt signals softening in the EV chain, remains the key watchpoint for the session ahead.