Base Metal Update 

According to the U.S. data released on Thursday, initial jobless claims fell last week, but the market showed a limited reaction. The U.S. dollar remained volatile as investors speculated on the severity of potential tariff measures to be announced by U.S. President Trump next week. This uncertainty has maintained market instability.

Performance of Metals

• SHFE (Shanghai Futures Exchange):

• SHFE Zinc, SHFE Copper, and Coking Coal recorded a decline of over 1%.

• Gold prices hit a new record high, increasing investor interest in safe-haven assets.

• A significant rise was observed in European container shipping.

Ferrous Metal Chain

• Iron ore fell by 0.64%.

• Rebar declined by 0.59%.

• HRC (Hot Rolled Coil) dropped by 0.3%.

• Stainless steel rose by 0.63%.

Coking Coal and Coke Sector

• Coking coal declined by 1.4%.

• Coke dropped by 1.04%.

Foreign Metal Market : 

• LME (London Metal Exchange) Lead, Copper, and Zinc declined by 0.5%.

• LME Aluminium fell by 0.51%.

• LME Tin dropped by 0.62%.

• LME Nickel recorded a modest increase of 0.08%.

Conclusion

Despite the decline in U.S. jobless claims, investor caution remains due to uncertainty surrounding U.S. tariff measures. Most metals recorded a decline, while gold reached new highs as a safe-haven asset. The ferrous metal and coking coal sectors remain under pressure.