• 14/08/2022 11:43 pm

#SMM #Morning Comments (Aug 31): Shanghai base metals were mostly higher as China’s manufacturing activity expanded in August

SHANGHAI, Aug 31 (SMM) — Shanghai base metals broadly rose on Monday morning as China’s manufacturing activity expanded in August.

The official manufacturing Purchasing Managers’ Index (PMI) for August came in at 51.0, according to the National Bureau of Statistics.

 

Shanghai base metals closed mixed on Friday night. Copper added 0.35%, aluminium advanced 0.48% and nickel strengthened 0.64%, while zinc fell 0.3%, lead weakened 0.32% and tin edged 0.09% lower.

Their counterparts on the LME, except for lead and tin, traded higher on Friday. Nickel rose 1.22% to lead the way up, copper increased 0.77%, aluminium inched up 0.12% and zinc firmed 0.78%, while lead slipped 0.38% and tin closed flat.

 

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