Commodity News
HeadLine : Base metals broadly rose; Shanghai tin soared 6%
Date : Jul 28 2020
Nonferrous metals on the LME and SHFE moved substantially higher across the board on Tuesday morning, as the US dollar remained weak. SHFE tin was the best performer, soaring more than 6% to a 20-month peak of 154,400 yuan/mt. Nonferrous metals on the LME climbed across the board on Monday, recovering from last Friday’s collapses caused by concerns over rising coronavirus cases globally and escalating tensions between the US and China. Lead soared 2.5% to lead the gains, tin jumped 2.4%, nickel rose 1.2%, zinc climbed 1.1%, aluminium advanced 0.8% and copper gained 0.5%. Three-month LME copper recovered 0.47% to $6,430/mt on Monday. It is expected to trade between $6,430-6,490/mt today.

Source: Reuters
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