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

Published: Jun 8, 2023 18:07

Source: SMM

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As of 15:04 CST, WTI oil and Brent oil rose 0.11% and 0.05% respectively, while the U.S. dollar index fell 0.11%.

SHANGHAI, Jun 8 (SMM) – As of 15:04 CST, WTI oil and Brent oil rose 0.11% and 0.05% respectively, while the U.S. dollar index fell 0.11%.

As of the closing of the intraday trading, SHFE base metals closed mixed. SHFE tin fell 1.42%, SHFE nickel dipped 0.98%, SHFE copper fell 0.04%; SHFE lead rose 0.2%, SHFE aluminum rose 0.64%, and SHFE zinc gained 1.39%.

Ferrous metals prices mostly rose. Stainless steel fell 0.2%, coking coal dropped 1.05%; coke rose 0.2%, hot-rolled coil rose 0.4%, rebar rose 0.63%, and iron ore jumped 2.66%.

As of 15:08, LME base metals generally fell. LME nickel fell 1.34%, LME tin slid 0.83%, LME lead fell 0.71%, LME zinc fell 0.44%; LME aluminum rose 0.5%, and LME copper rose 0.45%.

In terms of precious metals, SHFE gold fell 0.66%, and SHFE silver rose 0.65%. As of 15:11, COMEX gold and silver rose 0.05% and 0.79% respectively.

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