SMM Daily Comments (Jun 2): All Metals Closed Higher with SHFE Nickel Leading Gains, Coke Surged

Crude oil has risen for two consecutive days. As of 15:05 CST today, WTI oil and Brent oil rose 1.13% and 1.18% respectively.

The US dollar has fallen for two consecutive days after reaching a new high of 104.70 on May 31 since March 16, 2023.

As of 15:07 today, the US dollar index fell 0.11%.

As of the closing of the intraday trading, SHFE lead fell 0.53%; SHFE nickel jumped 4.04%, SHFE tin rose 1.78%, SHFE aluminum rose 1.71%, SHFE copper gained 1.5%, and SHFE zinc climbed 1.1%.

Ferrous metals all closed higher. Coke jumped 3.78%, coking coal rose 3.24%, iron ore rose 2.9%, hot-rolled coil rose 2.68%, rebar jumped 2.54%, and stainless steel rose 2.02%.

As of 15:11, LME metals rose across the board, LME tin rose 1.9%, LME zinc rose 1.87%, LME nickel rose 1.14%, LME aluminum rose 0.77%, LME lead rose 0.68%, and LME copper rose 0.66%.

In terms of precious metals, SHFE gold and silver rose 0.04% and 1.65% respectively.

As of 15:13, COMEX gold fell 0.04%, and COMEX silver rose 0.03%.

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