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SMM Evening Comments (May 24): Shanghai nonferrous metals fell across the board, aluminium dropped 3.52%_SMM


SHFE nonferrous metals broadly fell on Monday May 24 as investors continued to focus on inflation concerns.
SHANGHAI, May 24 (SMM) – SHFE nonferrous metals broadly fell on Monday May 24 as investors continued to focus on inflation concerns.
Aluminium led the losses and slumped 3.52%, copper slipped 1.36%, nickel eased 1.82%, zinc lost 1.05%, tin went down 1.41% and lead decreased 1.7%.
The ferrous complex fell across the board. Hot-rolled coil went down 3.9%, iron ore shed 5.21%, and rebar fell 3.57%.
Copper: The most-traded SHFE 2107 copper contract finished the day 1.36% lower at 71,640 yuan/mt. Open interest rose 5,166 lots to 132,000 lots.
In the Ut, the PMI of service industry and manufacturing industry reached a new record high in May, the economic recovery was still strong, and the US dollar index went up. A number of state Federal Reserve presidents all voiced the adjustment of easing policy, and the discussion on the contraction of bond purchase prog ....

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SMM Morning Comments (May 24): Shanghai base metals were mostly lower with attention turning to key economic data from the euro zone and the UK_SMM


Nonferrous metals on both SHFE and LME mostly cruised lower on Monday morning as data showed strong comeback by the services sector both in the US and Europe as businesses reopened following prolonged lockdown and benefited from a global demand recovery.
SHANGHAI, May 24 (SMM) Nonferrous metals on both SHFE and LME mostly cruised lower on Monday morning as data showed strong comeback by the services sector both in the US and Europe as businesses reopened following prolonged lockdown and benefited from a global demand recovery.
Shanghai base metals ended mostly lower in overnight trading. Copper edged down 1.21%, lead shed 0.38%, nickel fell 2.35% and aluminium lost 0.11%, while zinc remained unchanged and tin added 0.47%. ....

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2:00PM Water Cooler 4/6/2021 | naked capitalism

2:00PM Water Cooler 4/6/2021 | naked capitalism
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