SHANGHAI, Aug. 4 (SMM) – Base metal prices were depressed by soft data from China and US, stronger dollar and tumbling crude oil prices on Monday evening. SHFE 1510 lead dived to RMB 12,650/mt for night trading Monday and finally ended down RMB 230/mt at RMB 12,740/mt.
On Tuesday, China’s A-shares rallied, supporting base metal prices. SHFE lead moved around RMB 12,750/mt and ended at RMB 12,855/mt, down by RMB 115/mt. Trading volumes were 5,074 lots and positions rose 114 to 17,350.