Global Metals Market Sees Broad Gains Led by Copper and Nickel
The global metals market saw broad gains on August 17, led by LME and SHFE copper and SHFE nickel. The most-traded cast aluminum futures contract rose 0.69%, while alumina contracts rose 0.33%. Lithium carbonate prices fell more than 1%.
Overseas base metals also rose across the board, with LME copper up 1.36% and LME aluminum rising 0.68%. COMEX gold increased by 0.28%, and COMEX silver rose 1.02%. The most-traded platinum futures contract rose 2.64%, and palladium contracts rose 2.05%.
China's central bank, the PBOC, conducted an overnight reverse repo operation of 565.5 billion yuan on August 17. Meanwhile, Chinese rare earth detection technology has made significant progress, with a breakthrough in detecting impurities in high-purity rare earths.