• 15/08/2022 10:18 pm

#SMM Evening Comments (Aug 18): #Shanghai nonferrous metals rose across the board for two days

SHANGHAI, Aug 18 (SMM) –SHFE nonferrous metals rose across the board for the second consecutive day on Tuesday August 18.

Zinc led the gains on Monday and ended up 1.92%. Nickel advanced 1.12%, lead grew 0.03%, aluminium increased 0.7%, copper went up 0.87% and tin expanded 0.2%.

A total of 96 vessels carrying 14.81 million mt of iron ore arrived at major Chinese ports during August 9-15, SMM estimates. This was up 2.16 million mt from the prior week and 410,000 mt from the same period last year.

The ferrous complex also traded higher. Iron ore added 3.48%, hot-rolled coil increased 1.04% and rebar rose 0.71%.

 

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