SMM Daily Comments (Jul 3): SHFE Base Metals Rose across the Board with Tin Surging, Ferrous Metals Prices Closed Mixed

Published: Jul 7, 2023 18:21

Source: SMM

Save

Crude oil futures closed lower today. As of 15:04 CST today, WTI oil and Brent oil fell 0.37% and 0.32% respectively. As of 15:05 today, the U.S. dollar index rose 0.22%.

Crude oil futures closed lower today. As of 15:04 CST Jul 3, WTI oil and Brent oil fell 0.37% and 0.32% respectively. As of 15:05 today, the U.S. dollar index rose 0.22%.

As of the closing of the intraday trading, the SHFE base metals rose across the board, with SHFE tin up 3.12%, SHFE copper up 1.71%, SHFE nickel up 1.33%, SHFE lead up 1.2%, SHFE zinc up 1.1%, SHFE aluminium up 0.72%, and alumina up 0.68%.

Ferrous metals prices closed mixed today. Stainless steel prices rose 0.03%, and hot-rolled coil prices rose 0.42%.

Futures market Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

24 mins ago

Platinum prices consolidated intraday, with thin trading in the spot market [SMM Daily Review]

24 mins ago

30 mins ago

Zhuzhou Smelter Group Forecasts 173%-276% H1 2026 Profit Growth Due to Higher Metal Prices and Efficiency

[Zhuzhou Smelter Group Issues H1 2026 Earnings Forecast] Zhuzhou Smelter Group announced that it expects net profit attributable to the parent company of RMB 1.60–2.20 billion for the first half of 2026, an increase of RMB 1.0146–1.6146 billion year-on-year, representing growth of 173.29%–275.78%. The significant earnings improvement was primarily attributable to higher prices for minor and precious metals and sulfuric acid, together with enhanced operational efficiency and tighter cost control achieved through refined management initiatives.

30 mins ago

1 hour ago

Geopolitical Conflicts and Rate-Hike Expectations Suppress Silver Prices, Weakness Hard to Reverse [SMM Daily Review]

[SMM Daily Commentary: Geopolitical Conflicts and Rate Hike Expectations Weigh on Silver, Weakness Persists] SMM, July 14: Escalating US-Iran tensions and hawkish signals from the US Fed have reinforced rate hike expectations, sending silver prices lower under pressure. Spot market demand is sluggish, and premiums have edged further toward parity to slight discounts.

1 hour ago