SMM Daily Comments (May 5): SHFE Base Metals Prices Closed Mostly With Gains, Ferrous Metals Soared, Oil Posted 3-Day Winning Streak

Publicado: May 8, 2023 17:03
Crude oil futures rose today. WTI oil has risen for two consecutive days, and Brent oil has risen for three consecutive times.

Crude oil futures rose today. WTI oil has risen for two consecutive days, and Brent oil has risen for three consecutive days.

As of 15:14, WTI oil and Brent oil have risen by about 1%.

The U.S. dollar fluctuated and weakened today. As of 15:16, the U.S. dollar index dipped 0.2%, falling for two consecutive days.

As of the closing of the intraday trading, SHFE lead fell 0.26%, SHFE zinc rose 1.84%, SHFE tin rose 1.43%, SHFE copper gained 1.32%, SHFE nickel advanced 1.02%, and SHFE aluminium rose 0.82%.

On ferrous metals, coking coal surged 6.76%, coke jumped 6.32%, and hot-rolled coils and iron ore rose more than 5%.

The LME market is closed today and trading will resume on May 9 (Tuesday).

In terms of precious metals, SHFE gold fell 1.18%; SHFE silver fell 0.76%.

As of 15:22, COMEX gold rose 0.2%; COMEX silver was flat.

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SMM Daily Comments (May 5): SHFE Base Metals Prices Closed Mostly With Gains, Ferrous Metals Soared, Oil Posted 3-Day Winning Streak - Shanghai Metals Market (SMM)