• 08/08/2022 9:04 pm

#SMM #Evening Comments (Aug 26): #Shanghai nonferrous metals closed mostly higher, lead fell 1.07%

SHANGHAI, Aug 26 (SMM) — SHFE nonferrous metals rose for the most part on Wednesday August 26, as the supply of lead ingots improved and inventories of nickel ore shrank.

 

Shanghai nonferrous metals, except for lead, traded higher on Tuesday August 25. Copper increased 0.31%, aluminium added 0.96%, nickel surged 2.06%, tin rose 0.07% and zinc advanced 0.13%, while lead shed 1.07%.

 

Social inventories of long steel (including wire rods and rebar) in Guangzhou decreased 1.41%, or 18,400 mt, in the week ended August 26 to 1.28 million mt, showed SMM data. Stocks were 55.2% higher than the same period last year.

 

The ferrous complex closed mixed. Hot-rolled coil fell 0.66%, rebar shed 0.43%, while iron ore rose 0.73%.

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