SMM Daily Comments (Jun 8): Base Metals Closed Mixed with SHFE Tin Plunging, Iron Ore Soared, Oil Rebounded

SHANGHAI, Jun 8 (SMM) – As of 15:04 CST, WTI oil and Brent oil rose 0.11% and 0.05% respectively, while the U.S. dollar index fell 0.11%.

As of the closing of the intraday trading, SHFE base metals closed mixed. SHFE tin fell 1.42%, SHFE nickel dipped 0.98%, SHFE copper fell 0.04%; SHFE lead rose 0.2%, SHFE aluminum rose 0.64%, and SHFE zinc gained 1.39%.

Ferrous metals prices mostly rose. Stainless steel fell 0.2%, coking coal dropped 1.05%; coke rose 0.2%, hot-rolled coil rose 0.4%, rebar rose 0.63%, and iron ore jumped 2.66%.

As of 15:08, LME base metals generally fell. LME nickel fell 1.34%, LME tin slid 0.83%, LME lead fell 0.71%, LME zinc fell 0.44%; LME aluminum rose 0.5%, and LME copper rose 0.45%.

In terms of precious metals, SHFE gold fell 0.66%, and SHFE silver rose 0.65%. As of 15:11, COMEX gold and silver rose 0.05% and 0.79% respectively.

More popular news:

SMM Daily Comments (Jun 2): All Metals Closed Higher with SHFE Nickel Leading Gains, Coke Surged

SMM Daily Comments (Jun 5): Base Metals Mostly Fell, Ferrous Metals Bucked the Trend to Surge, Oil Gained Further on Saudi Arabia Output Cuts in July

SMM Indonesia Nickel and Cobalt Industry Chain Conference: Global Nickel & Cobalt Supply and Demand Prospect, Impact from NEV Development

Glencore to Aggressively Expand Copper Capacity

World Bank Raises Forecast for Global Economic Growth in 2023 with Significant Increase for China, Emphasises Dangers of A High-Interest Rate Environment, But Lowers Forecast for 2024

Changan Automobile Denies Rumours of "Withholding Payment": NOT True and Has Reported to Public Security Authority

Commerzbank Lowers Price Forecast for Copper, Aluminium, Zinc and Nickel for 2023 and 2024

Rumours Say Glencore Will Raise Takeover Bid for Teck Resources, but Another Big Obstacle Lies Ahead

Commodity Price Bubble Finally Burst, but Metals Demand Will Surge