• 15/08/2022 10:25 pm

#SMM Morning Comments (Aug 14): Nonferrous metals broadly rose Friday morning on dollar slide and positive US jobless claims data

SHANGHAI, Aug 14 (SMM) — Nonferrous metals on both LME and SHFE cruised higher for the most part as of 10:01 Beijing time on Friday morning, as US unemployment data topped expectations and dollar weakened.    

Those metals finished Thursday’s session in negative territory as the stalemate in US coronavirus relief package talks persists.

On the SHFE, nonferrous metals, except for lead, moved lower in overnight trading. Copper fell 1.64%, aluminium shed 0.52%, zinc slipped 0.64%, nickel weakened 0.56% and tin slid 0.27, while lead added 0.88%.

Their counterparts on the LME performed similarly on Thursday. Copper sank 2.56%, aluminium fell 1.2%, zinc declined 1.15%, nickel slipped 1.44% and tin weakened 0.29%, while lead advanced 0.13%.

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