• 08/08/2022 10:10 pm

SHANGHAI, Sep 3 (SMM) — Shanghai base metals traded lower for the most part on Thursday morning as the dollar held onto overnight gains, while their counterparts on the LME rose across the board as investors await US jobless claims data set to release today.

 

China’s services sector sustained recovery in August, an industry survey showed on Thursday, with companies hiring more employees for the first time since January.

The Caixin/Markit services Purchasing Managers’ Index (PMI) slipped to 54.0 from 54.1 in July, dipping for the second month after June’s decade high, but remaining above the 50-mark that separates monthly growth from contraction.

 

On the SHFE, nonferrous metals, except for nickel and tin, closed lower in overnight trading. Copper weakened 0.59%, aluminium fell 0.93%, zinc slipped 0.69% and lead declined 0.82%, while nickel added 0.31% and tin rose 0.8%.

The LME complex traded mixed on Wednesday. Nickel rose 1.09%, tin advanced 1.05% and copper edged up 0.07%, while lead shed 1.97%, aluminium fell 1.54% and zinc declined 1.2%.

 

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