• 08/08/2022 9:59 pm

SHANGHAI, Sep 4 (SMM) – SHFE nonferrous metals broadly fell across the board on Friday September 4 as shares of major tech companies declined in after-hours trading leading to the worries in the market and the US dollar index rebounded continuously.


Nickel led the losses and slumped 2.19%, copper slipped 0.5%, zinc eased 1.8%, lead lost 1.97%, tin went down 0.9% and aluminium decreased 0.8%.


SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 1,200 mt in the week ended September 4 to 178,400 mt, after an increase of 1,500 mt in the previous week.


The ferrous complex also traded lower for the most part. Iron ore retreated 1.45%, rebar shed 1.08%, and hot-rolled coil fell 0.94%.


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