• 15/08/2022 1:00 am

#SMM Morning Comments (Aug 21): #Nonferrous metals declined broadly on higher US jobless claims and economic recovery fears

SHANGHAI, Aug 21 (SMM) — LME nonferrous metals increased across the board on Friday morning, reversing previous losses, while their counterparts on the SHFE edged higher for the most part as of 10:08 Beijing time.

 

However, those metals fell for the most part on Thursday as higher US jobless claims drove up concerns on a slow economic recovery. Shanghai base metals, except for aluminium, traded lower in overnight trading. Copper and zinc weakened 0.82%, lead fell 0.65%, nickel slipped 0.97% and tin slid 0.63%, while aluminium firmed 0.82%.

 

On the LME, nonferrous metals fell across the board on Thursday. Copper declined 1.15%, aluminium weakened 0.5%, zinc fell 0.54%, lead slid 0.8%, nickel slipped 0.14% and tin shed 0.31%.

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