SMM Daily Comments (Jun 9): Base Metals Rose across the Board with SHFE Tin Surging, Iron Ore Skyrocketed, US and Iran Deny Nuclear Deal

Published: Jun 09, 2023 16:28 (GMT+8)

Source: SMM

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As of 15:05 CST, WTI oil and Brent oil fell 0.46% and 0.43% respectively.

Markets remained skeptical that the U.S. and Iran could reach a nuclear deal after both the U.S. and Iran denied reports that they were close to a deal.

As of 15:06 today, the U.S. dollar index rose 0.09%.

As of the close of the day, SHFE tin rose 3.39%, SHFE aluminum rose 1.35%, SHFE nickel rose 1.04%, SHFE zinc rose 0.96%, SHFE copper rose 0.46%, and SHFE lead rose 0.07%. Iron ore rose 3.44%, coke rose 2.32%, hot-rolled coil rose 1.95%, rebar rose 1.62%, and coking coal rose 1.26%.

The U.S. dollar stopped its two-game losing streak. As of 15:06 today, the U.S. dollar index rose 0.09%.

As of 15:10, LME metals rose across the board, with LME tin up 2.61%, LME nickel up 1.61%, LME aluminum up 1.06%, LME lead up 0.79%, LME copper up 0.68% and LME zinc up 0.46%.

In terms of precious metals, SHFE gold and SHFE silver rose 0.53% and 3.2% respectively. As of 15:13, COMEX gold and silver rose 0.09% and 0.58% respectively.

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