Metals Markets Surge as Lithium Carbonate Leads Charge

Metals markets saw broad gains on August 12, with lithium carbonate leading the charge at nearly 3% higher. The Shanghai Futures Exchange (SHFE) saw copper rise 0.27%, aluminum up 0.93%, and tin gain 1.44%. LME metals also rose across the board, with tin up 1.14%. The most-traded coking coal contract on the Dalian Commodity Exchange rose 2.17%.

In the precious metals space, COMEX gold was up 0.54%, and SHFE gold rose 0.69%. SHFE silver contracts were also higher, with a gain of 1.22%. The most-traded platinum futures contract fell 0.18%, however.

The US dollar index rose 0.05% to 99.87 as markets await the release of July CPI data. Analysts are expecting another relatively mild inflation report, but concerns over energy prices remain a key factor. Crude oil benchmarks WTI and Brent both rose, with WTI up 1% and Brent up 0.92%, driven by uncertainty over the US-Iran deal outlook.