LIVE FUTURES REPORT 10/10: SHFE base metals prices mixed, with copper up but aluminium down

Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Wednesday October 10, with aluminium, tin and lead down but the rest of the complex up on a weaker US dollar and the generally confident mood among participants at LME Week.

“LME participants put faith in supportive fundamentals of base metals. This boosted metal prices, with nickel, zinc and copper the top performers,” according to ANZ Research. “We see much stronger demand for cathode globally, mainly driven by China at the moment,” Aurubis chief executive, Jürgen Schachler told Fastmarkets in an interview at LME week. “The general market will continue to grow by 2% plus, so we are very optimistic and very bullish on the future market.” Schachler added. Copper also got support from the weaker US dollar, which had slipped by 0.09% as at 9.56am Shanghai time. In addition, “the...

Published

Violet Li

October 10, 2018

05:05 GMT

Shanghai