Metal Prices Mixed Amid Geopolitical Tensions

The Shanghai Metals Market reported overnight market trends in metals and energy markets.

Metal prices on the domestic market generally rose, except for SHFE tin, which fell by 0.98%.

SHFE copper increased by 0.1%, aluminum gained 0.38%, lead edged up 0.1%, zinc rose 1.11%, and nickel dropped 1.22%

On the other hand, LME base metals mostly fell overnight, with LME copper experiencing a 0.4% decline after reaching an intraday high of $14,369.5/mt.

The US dollar index rose by 0.26% to 99.95, and crude oil futures also increased, with US oil gaining 4% and Brent oil surging 4.57%, due to escalating geopolitical tensions in the Middle East.