SMM Evening Comments

Category:-Metal | 16-Mar-2023 04:47 PM

Shanghai nonferrous metals closed with losses in day trading. On the macro front, various risk events recently have triggered market panic, including the slump of Credit Suisse shares that caused a collapse in euro. The market players, out of risk aversion sentiment, turned to invest in gold or dollar. The dollar index soared above 105 yesterday, weighing on the prices of commodities and precipitated a sharper decline in crude oil prices.  

SHFE copper declined 3.45%, aluminium lost 1.20%, lead sank 0.10%, zinc fell 3.41%, tin tumbled 4.79%, and nickel shed 2.3%.

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