LIVE FUTURES REPORT 16/02: Most SHFE base metals trend upwards amid weaker dollar

Base metals prices on the Shanghai Futures Exchange were mostly up during Asian morning trade on Thursday February 16, amid a weaker dollar following disappointing US industrial production data for January.

The dollar stood at 100.92 as of 11:25 Shanghai time, down 0.17% from the previous session’s close. US industrial production data for January released late on Wednesday disappointed as it fell 0.3% month-on-month, much lower than a month-on-month rise of 0.6% in December. Adding further pressure to the dollar was the fact that US Fed chair Janet Yellen gave no further hints into the timing of the US central bank’s next rates rise. Previous comments from Yellen regarding the possibility of a rates rise in March had pushed the dollar higher. The most-traded base metals contracts on the SHFE all logged gains, while lead...

Published

Ellie Wang

February 16, 2017

04:42 GMT

Shanghai