SHFE Metals See Mixed Results as Lithium Carbonate Prices Surge

Metals on the Shanghai Futures Exchange (SHFE) saw mixed performance, but most rose throughout the day. SHFE copper gained 0.39%, while SHFE aluminum fell 0.51%. The most-traded cast aluminum futures contract rose 0.71%, and the most-traded alumina contract fell 0.25%. In a positive note, lithium carbonate saw its price surge by 4.06%, with the most-traded silicon metal contract rising 0.12%.

Ferrous metals also showed mixed results, with iron ore prices remaining flat at 714 yuan/mt. Rebar rose 0.35%, and hot-rolled coil (HRC) gained 0.21%. Stainless steel rose 0.47%, while coking coal fell 0.07%.

In overseas markets, LME metals were mostly higher, with LME lead rising 0.26%. The US dollar index also saw a small gain of 0.07% to 100.29, following comments from Minneapolis Fed President Neel Kashkari that the US inflation remains too high.