SMM Daily Comments (Jun 16): Base and Ferrous Metals Prices Rose across the Board, SHFE Tin Surged, Coking Coal Jumped

Published: Jun 16, 2023 18:10

Source: SMM

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Crude oil prices rose today. As of 15:17 CST, WTI oil and Brent oil rose 0.01% and 0.03% respectively. The U.S. dollar had fallen for three consecutive days under the influence of the Fed’s interest rate hike suspension and rose 0.12% as of 15:19 CST today.

As of the closing of the intraday trading, SHFE base metals all went up, with SHFE tin up 2.03%, SHFE aluminum up 1.25%, SHFE copper up 1.02%, SHFE nickel up 0.95%, SHFE zinc up 0.93%, and SHFE lead up 0.68%.

Ferrous metals prices all closed up. Coking coal rose 2.68%, coke rose 1.8%, rebar rose 1.5%, hot-rolled coil rose 1.19%, stainless steel rose 0.39%, and iron ore rose 0.12%.

As of 15:22, LME base metals prices all gained ground, with LME aluminum up 1.44%, LME tin up 1.38%, LME zinc up 1.09%, LME nickel up 1.06%, LME copper up 0.55%, and LME lead up 0.16%.

For precious metals, SHFE gold and silver rose 0.1% and 0.05% respectively.

As of 15:24, COMEX gold and silver rose 0.19% and 0.51% respectively.

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SMM Daily Comments (Jun 8): Base Metals Closed Mixed with SHFE Tin Plunging, Iron Ore Soared, Oil Rebounded

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