SMM Daily Comments (Apr 19): Base Metals Prices Slumped, SHFE Nickel Surged, LME Tin Plummeted

Published: Apr 19, 2023 16:40

Source: SMM

Save

The U.S. dollar fluctuated slightly today. As of 15:20 CST, the U.S. dollar index rose 0.04%.

SHANGHAI, Apr 19 - The U.S. dollar fluctuated slightly today. As of 15:20 CST, the U.S. dollar index rose 0.04%.

Crude oil futures fell slightly. As of 15:21, WTI oil and Brent oil fell nearly 0.6%.

As of the closing of the intraday trading, SHFE nickel jumped 4.2%, SHFE aluminium climbed 0.85%, SHFE lead advanced 0.46%, SHFE zinc was flat, SHFE copper fell 0.24%, and SHFE tin fell 1.51%.

Stainless steel rose 0.13%, iron ore fell nearly 1%, rebar and hot-rolled coil fell more than 0.6%, coking coal fell 0.22%, and coke dipped 0.1%.

LME base metals fell across the board. As of 15:46 CST, LME tin plummeted fell by nearly 3% and zinc fell by 1.69%. LME copper and aluminium fell by 1.24% and 1.11%, respectively. LME lead and nickel fell by more than 0.3%.

Market Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

12 hours ago

Platinum Prices Stop Falling and Rebound, Spot Market Discounts Widen Slightly, Trading Muted [SMM Daily Review]

12 hours ago

14 hours ago

Platinum Group Metals Rebound as Trump Suspends Airstrikes, Rhodium Rises

Following Trump’s post suspending airstrikes recently, platinum group metals (PGMs), which had been under severe downward pressure, staged a sharp rebound. Rhodium halted its streak of consecutive declines and edged higher, with prices hovering around RMB 1,970 per gram. Market participants note that PGMs are currently at a double low in technical indicators and market sentiment, endowing them with upward rebound momentum.

14 hours ago

Silver Price Corrective Rebound, Spot Parity Transactions Quietly Await Guidance [SMM Daily Review]

[SMM Daily Commentary: Silver Price Corrective Rebound, Spot Silver Transactions at Parity Await Guidance] SMM June 12 - The US-Iran tensions have eased, and silver prices rebounded slightly. Affected by the "rush to buy amid continuous price rise and hold back amid price downturn" mentality, transactions in the spot market were concentrated at parity. Going forward, attention needs to be paid to downstream purchase willingness.

14 hours ago