Crude oil rose slightly today. As of 15:19 CST, WTI oil and Brent oil rose 0.85% and 0.73% respectively. The U.S. dollar snapped its five-day winning streak and dipped 0.1% as of 15:19 today.
As of the closing of the intraday trading, SHFE base metals mostly rose. Only SHFE lead fell 0.07%; SHFE tin jumped 4.18%, SHFE zinc gained 2.37%, SHFE copper rose 2.05%, SHFE aluminium rose 0.92%, and SHFE nickel advanced 0.56%.
Ferrous metals prices closed up across the board, with iron ore up 4.89%, rebar up 1.86%, hot-rolled coil up 1.54%, coking coal up 0.97%, stainless steel up 0.54%, and coke up 0.28%.
LME market was closed today due to the UK spring bank holiday.
In terms of precious metals, SHFE gold fell 0.04%, and SHFE silver rose 1.73%. As of 15:36, COMEX gold and silver rose 0.09% and 0.51% respectively.
Today, the market is awaiting the issue of the economic outlook report released by the OECD.
More popular news:
'Bond King' Jeffrey Gundlach Says Sharp Fed Rate Cuts By Year-End Will Push Up Gold Prices
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Goldman Sachs Lowers Price Forecast for Aluminium, Copper in 2023, Sees Nickel Price Plunging
Zinc Prices to Plunge by 2025, Here's Why
World Bank: Global Commodity Prices to Plunge Precipitously This Year at Fastest Speed since Covid Outbreak
BYD Denies Rumours after Being Reported to Chinese Authorities, Two Top China Automakers Escalate War
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G7 to Expand Sanctions Covering Metals on Russia, Promises Further Support for Ukraine
A Bull Gold Market Has Just Begun
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
BofA Sharply Lowers Forecast for Oil Price, Global Oil Consumption in 2023
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Global Aluminium Inventory to Plunge Further amid Supply Headwinds, LME Aluminium Prices to React Fast
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
USGS Rejects Copper as Critical Mineral despite Huge Shortage and Biggest Producers Push, Citing Misleading Arguments
Buffett, Munger Talk about AI, De-Dollarisation, EV, China-US Relations, Global Supply Chains at Warren Buffett and Berkshire Hathaway’s 2023 Annual Meeting
SMM Daily Comments (May 24): LME Base Metals Closed with Losses, All Ferrous Metals Dropped with Iron Ore Plunging, Oil Gained Ground as Goldman Sachs Sees Stubborn Shortage from June
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
SMM Daily Comments (May 19): LME Metals Rose across the Board, All Ferrous Metals Dropped with Coking Coal Plunging
SMM Daily Comments (May 22): Metals Prices Mostly Fell, Zinc Plunged to over 2-Year Low, Coke Slumped, Fears over US Debt Ceiling and China Demand Structural Issues Weigh on Oil
Global Key Base Metals Face Supply Glut, Severe Oversupply for Aluminium, But There Is a Global Copper Shortage
Buffett Talks about Banking Crisis and Bank Stocks He Bought, Munger Warned Commercial Real Estate: the City Will Be Seriously Hollowed Out
