Metals Markets Decline Broadly on July 28

Metals markets saw broad declines on July 28, according to the Shanghai Metals Market midday commentary. Base metals in the domestic market mostly fell, with SHFE copper down 0.12%, while SHFE aluminum rose 0.26%. The most-traded cast aluminum futures contract was up 0.17%.

Ferrous metals all fell, with iron ore down 0.13%, rebar down 0.62%, and hot-rolled coil down 0.46%. Coking coal and coke also declined, with the most-traded coking coal contract falling 2.36%.

In overseas markets, LME metals nearly all fell, with copper down 0.56%, aluminum down 0.39%, and tin down 1.57%. COMEX gold and silver both fell, with COMEX gold down 0.68% and COMEX silver down 1.96%.