• 11/08/2022 8:39 pm

SHANGHAI, Aug 17 (SMM) — Nonferrous metals on the SHFE rose broadly as of 10:00 Beijing time on Monday morning as US dollar remained weak. Meanwhile, base metals on the LME traded mixed as US-China tensions continue to weigh on investor sentiment.

Japan’s economy shrank 27.8% on an annualized basis in April-June, according to government data released this morning. That was the sharpest contraction on record.

Shanghai base metals closed mixed on Friday night. Copper rose 0.84% and nickel firmed 0.82%, while aluminium fell 0.38%, zinc weakened 0.13% and tin edged 0.08% lower. Lead ended flat last Friday night.

Their counterparts on the LME mostly traded higher on Friday. Nickel surged 2.46%, copper rose 1.52%, tin strengthened 1% and zinc added 0.21%, while aluminium fell 1.28% and lead edged 0.08% lower.

 

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