SMM Daily Comments (Apr 24): SHFE Base Metals Dropped With Nickel Tumbling, Ferrous Metals Prices Slumped

SHANGHAI, Apr 24 (SMM) – Crude oil futures continued to weaken today. As of 15:10 CST, WTI oil and Brent oil fell 1.3%.

After falling for two consecutive days, the US dollar rebounded today. As of 15:11, the US dollar index rose 0.16%.

As of the closing of the intraday trading, SHFE nickel prices plummeted by 3.24%, SHFE zinc prices dropped  2.55%, SHFE tin prices fell 1.79%, SHFE aluminium prices dipped 0.92%, SHFE copper prices fell 0.78%, and SHFE lead prices fell 0.29%.

For ferrous metals, hot-rolled coils prices fell 3.68%, rebar prices plunged 3.61%, iron ore prices fell 3.09%, stainless steel prices dropped 2.55%, and coke prices declined 2.18%.