Crude oil fell slightly today. As of 15:01 today, WTI oil and Brent oil fell 0.68% and 0.55% respectively. Unexpected growth in crude inventories aroused concerns over demand. Meanwhile, economic data from the world's two largest oil consumers, the United States and China, missed expectations.
The IEA monthly report released yesterday also questioned Russia’s production cut cheating, mainly because its oil exports hit a record high. The IEA suspects that it has increased production to make up for the decline in oil revenue.
In terms of metals, as of the closing of the intraday trading, SHFE aluminum rose 1.24%, SHFE zinc rose 0.14%, and SHFE lead rose 0.1%. SHFE nickel fell 1.04%. SHFE copper fell 0.39%, and SHFE tin fell 0.1%.
In terms of ferrous metals, only stainless steel fell by 0.03%. Coking coal rose by 3.29%, iron ore jumped by 2.96%, coke rose by 2.43%, rebar gained by 1.45%, and hot-rolled coil rose by 1.21%.
As for LME metals, as of 15:07, only LME lead fell 0.05%. LME aluminum rose 0.07%, LME copper advanced 0.3%, LME nickel rose 0.37%, LME zinc climbed 0.66%, and LME tin rose 0.77%.
In terms of precious metals, SHFE gold fell 0.7%; SHFE silver fell 0.55%. As of 15:10 today, COMEX gold and silver rose 0.01% and 0.05% respectively.
More popular news:
'Bond King' Jeffrey Gundlach Says Sharp Fed Rate Cuts By Year-End Will Push Up Gold Prices
Rio Tinto Warns of Risks for Paying High Premiums for Lithium Mines after Plunging Lithium Prices Triggered Acquisition Rush
Citigroup Warns European Commercial Real Estate Values Will Plummet 40%, But Sees Medium-Term Opportunity
IMF: US Debt Defaults Will Take a Heavy Toll on Global Economy, Global GDP Growth Can Plunge
Goldman Sachs Warns of Serious Risks US Dollar Will Lose Reserve Currency Status on Debt Ceiling Standoff
Goldman Sachs Sees European Gas Prices Tripling, Gives Price Forecast in H2 2023
BofA Sharply Lowers Forecast for Oil Price, Global Oil Consumption in 2023
UBS Raises China GDP Growth Forecast, Sees Earnings from China Stock Market Soaring, RMB Appreciating
Global Aluminium Inventory to Plunge Further amid Supply Headwinds, LME Aluminium Prices to React Fast
Takeaways of Warren Buffett and Berkshire Hathaway’s 2023 Annual Meeting
High Lithium Ore Prices in Australia will Drive Lithium Prices Rebound, Reasons Prevent Output to Grow
Sharp Output Cuts Led to Lithium Ore Shortages, High Import Prices Drove Lithium Salt Producers to Shut Down
US Treasury Bill Rates Soar to Record High on Debt Ceiling Jitters
Russia is Accelerating Technology to Become Top Liquefied Natural Gas Supplier by Tripling Exports By 2030
No Other Country can Replace China's Manufacturing Industry Including India
Global Manufacturing PMI in April Points to Greater Downward Pressure on Global Economy
SMM Daily Comments (May 5): LME Base Metals Rose across the Board, SHFE Nickel Plunged
SMM Daily Comments (May 9): Most LME Base Metals Closed Lower, SHFE Nickel Prices Plunge, Ferrous Metals Mostly Rose
SMM Daily Comments (May 12): SHFE Base Metals and Silver Prices Crashed, Most LME Base Metals Prices Went Down, Oil Posted 3-Day Losing Streak
SMM Daily Comments (May 16): Most Base Metals Prices Closed with Losses, SHFE Nickel, Stainless Steel Plunge, Oil Gained on G7 New Measures, US Strategic Petroleum Reserve Replenishment and Supply Concerns
A Bull Gold Market Has Just Begun
Fitch Ratings Raises Saudi Arabia IDR, Says World Bank Reason and High Dependence on Oil Remain a Weakness for the Country's Rating
Copper Shortage Is Irreparable Even after Biggest Mergers and Acquisitions, Here’s Why
Buffett Talks about Banking Crisis and Bank Stocks He Bought, Munger Warned Commercial Real Estate: the City Will Be Seriously Hollowed Out