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SMM Daily Comments (May 19): LME Metals Rose across the Board, All Ferrous Metals Dropped with Coking Coal Plunging

iconMay 19, 2023 18:04
Crude oil gained ground today. As of 15:05, WTI oil rose 1% and Brent oil rose 0.98%.

Crude oil gained ground today. As of 15:05, WTI oil rose 1% and Brent oil rose 0.98%.

As of the closing of the intraday trading, most SHFE base metals prices rose. SHFE copper up 0.14%, SHFE tin up 0.73%, SHFE lead up 0.82%, and SHFE nickel up 0.64%. SHFE aluminum fell 0.19%, and SHFE zinc fell 0.72%.

Ferrous metals fell across the board, iron ore fell 1.41%, rebar fell 1.35%, hot-rolled coil fell 0.96%, and stainless steel fell 0.63%. Coking coal plummeted 5.71%, coke fell 3.84%.

In terms of LME metals, LME metals rose across the board. LME nickel rose 1.91%, LME copper rose 0.89%, LME zinc rose 1.18%, LME aluminum rose 0.24%, LME lead rose 0.85%; LME tin rose 0.48%.

SHFE gold fell 0.32%, and SHFE silver rose 0.56%. As of 15:05 today, COMEX gold and silver rose 0.41% and 0.98% respectively.

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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

SMM Daily Comments (May 17): Most Metals prices Rose, Ferrous Metals Jumped with Coking Coal soaring 3.29%,Oil Went Down on Surprise Inventory Growth, Poor China Economic Data and IEA Doubt on Russia Cheating on Output Cuts

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