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

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.

More popular news:

SMM Daily Comments (Jun 5): Base Metals Mostly Fell, Ferrous Metals Bucked the Trend to Surge, Oil Gained Further on Saudi Arabia Output Cuts in July

SMM Daily Comments (Jun 6): Base Metals Mostly Rose, Iron ore Surged, Oil Plunged on Sluggish Overseas Economies

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

SMM Daily Comments (Jun 7): Base Metals Mostly Rose, Ferrous Metals Dropped, Oil down as Russia Dumps Cheap Oil

China Will Issue Massive Bills In Hong Kong This Year

Breaking News! What are the Signals from China’s Surprise Rate Cut besides the Aim of Lowering Financing Cost for Real Economy?

Global Manufacturing PMI Continued To Fall In May, Points To Downturn In Global Economy

SMM Indonesia Nickel and Cobalt Industry Chain Conference: Global Nickel & Cobalt Supply and Demand Prospect, Impact from NEV Development

Indonesia Will Launch Nickel Price Index Applied for Domestic Policies and Deter Export Duties on Nickel Products

Chilean Tax Hike Will Deter Copper and Lithium Mine Investment, Push Japanese Mining Companies to Other 24 Countries

Glencore to Aggressively Expand Copper Capacity

World Bank Raises Forecast for Global Economic Growth in 2023 with Significant Increase for China, Emphasises Dangers of A High-Interest Rate Environment, But Lowers Forecast for 2024

Commerzbank Lowers Price Forecast for Copper, Aluminium, Zinc and Nickel for 2023 and 2024

Rumours Say Glencore Will Raise Takeover Bid for Teck Resources, but Another Big Obstacle Lies Ahead

Commodity Price Bubble Finally Burst, but Metals Demand Will Surge