SMM Daily Comments (Apr 3): Most Metals Prices Fell, Oil Soared over 5% with WTI Surging to New High

The US dollar index rose 0.25% as of 15:06 CST. As of 15:08, both WTI crude oil and Brent crude oil rose by more than 5%, with the first once hit a new high since January 27, 2023 to $81.69 per barrel.

As of the close of the day, SHFE nickel rose 2.84%, SHFE zinc and tin fell more than 1.1%, SHFE lead dropped 0.78%, and SHFE copper and aluminium dipped more than 0.4%. Stainless steel rose 0.03%. Coking coal and coke fell more than 3.7%, and rebar went down 3.14%. HRC fell 2.7%.