SHANGHAI, Jul 6 (SMM) – As of 15:32 CST, WTI oil rose 0.13%, while Brent oil fell 0.09%. The US dollar snapped its three-day winning streak and fell 0.15%.
Most SHFE base metals closed higher, with SHFE nickel up 4.82%, SHFE tin up 4.01%, SHFE lead up 0.48%, alumina up 0.35%; SHFE zinc down 0.67%, SHFE aluminum down 0.28%, and SHFE copper down 0.15%.
Nickel inventory is still at a historically low level, and the demand has not improved significantly.
For tin, tin ore supply remains in shortages and there will be potential halts at mines in the Wa State of Myanmar. Some smelting enterprises in Yunnan incurred losses with the current tin concentrate TCs. Meanwhile, a large domestic smelter is expected to undertake maintenance. Domestic tin output can hardly increase in the third quarter, and the price of tin should rise.
Ferrous metals prices closed up across the board, with coke up more than 2%, coking coal up 1.75%, iron ore up 0.97%, stainless steel up 0.68%, hot-rolled coil up 0.18%, and rebar up 0.11%.
Industrial silicon closed up 0.11% today.
SHFE gold and silver rose 0.08% and 1.03% respectively. As of 15:37 today, COMEX gold and silver rose 0.01% and 0.21% respectively.
LME metals generally fell. As of 15:42, only LME tin rose 2.11%; LME nickel fell 0.03%, LME lead dipped 0.34%, LME zinc fell 0.51%, LME aluminum dropped 0.54%, and LME copper fell 0.64%.
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