LIVE FUTURES REPORT 03/12: SHFE base metals rally on Trump-Xi meeting at G20 Summit

All base metals prices on the Shanghai Futures Exchange moved higher during Asian morning trading on Monday December 3, benefiting from the positive sentiment after the agreement by Chinese President Xi Jinping and US President Donald Trump to find a solution to the trade war between the two nations at the Group of Twenty (G20) summit in Argentina over the weekend.

The leaders of two countries, China and the United States, reportedly agreed to stop imposing new tariffs one each other, and would step up negotiations with the aim of reaching a deal within 90 days. The zinc price was particularly buoyant amid low stocks in SHFE warehouses, with its most-traded January contract climbing up 650 yuan to 20,975 yuan ($3,014.20) per tonne from yesterday’s closing. “The low inventories...

Published

Hui Li

December 03, 2018

04:42 GMT

Shanghai