LME inventories: zinc -700t, tin +15t, nickel +6t, copper -3,875t, aluminium -1,550t, lead +375t.

ECB chief economist LANE said oil prices could remain above pre-war levels as energy firms and governments rebuild inventories, which would sustain upward pressure on inflation. He noted Brent crude briefly fell to pre-war levels last week, but demand for restocking may keep prices elevated. LANE added that while the ECB welcomes lower oil prices, oil may stay above pre-war levels for several years, imposing persistent cost-push pressure on the economy.

Chinese lithium carbonate 2609 futures strengthened intraday, extending gains to 6.05% at 159,880 yuan/ton. Turnover topped 41.0 billion yuan and open interest rose by about 7,600 contracts, with volume and positions both picking up.