• 14/08/2022 11:14 pm

Copper: The most-traded SHFE 2009 copper contract fell rapidly to a session low of 50,040 yuan/mt after opening as investors added their short positions, and finished the day 1.68% higher at 50,730 yuan/mt. The continued loose monetary policy boosted the market, and bullion continued to rise, supporting copper prices. Whether the contract could maintain its upward trend will come under scrutiny tonight.

Aluminium: The most-liquid SHFE 2009 aluminium contract finished the day 0.28% higher at 14,405 yuan/mt Open interest lost 4,223 lots to 114,000 lots. The contract is expected to move rangebound in the short term.

Zinc: The most-active SHFE 2009 contract fell to an intraday low of 19,270 yuan/mt, before rebounding to finish the day 2.27% higher at 19,790 yuan/mt. Open interest increased 9,188 lots to 89,172 lots. Whether the contract could maintain its upward trend will come under scrutiny tonight.

Nickel: The most-traded SHFE 2010 nickel contract ended 2.47% higher at 115,950 yuan/mt today. Whether the contract could break above 116,000 yuan/mt will be monitored tonight.

Lead: The most-active SHFE 2009 lead contract closed up 0.62% higher at 16,200 yuan/mt. The contract is expected to fluctuate range-bound in the short term. Whether the contract could maintain its upward trend will come under scrutiny tonight.

Tin: The most-traded SHFE 2010 nickel contract climbed to an intraday high of 144,140 yuan/mt as investors added their long positions, ending the day 0.47% higher at 142,860 yuan/mt. Pressure above is seen from the 10-day moving averages of 144,200 yuan/mt.

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