Metals Market Sees Widespread Declines Amid Global Turbulence
The global metals market saw mixed performance overnight, with base metals on the Shanghai Futures Exchange (SHFE) experiencing varying degrees of decline and increase. SHFE copper fell by 0.16%, while SHFE aluminum dropped by 0.33%. However, SHFE lead rose by 0.19%.
LME base metals, which are traded overseas, also saw significant declines, with LME copper falling by 0.99% and LME aluminum dropping by 0.61%. The most-traded alumina futures contract on the SHFE fell by 2.07%, while the most-traded cast aluminum contract rose by 0.15%.
COMEX gold, which is traded in the United States, plummeted by 4% and hit an intraday low of $4,143.1/oz. COMEX silver also declined sharply, falling by 5.82%. The most-traded SHFE gold contract fell by 1.57%, and the most-traded SHFE silver contract dropped by 1.63%.