SMM Evening Comments (Dec 13): Shanghai Nonferrous Metals Mostly Closed with Gains as PBoC Announced to Raise Foreign Exchange RRR


Source: metal.com metal.com

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SHANGHAI, Dec 13 (SMM) – Shanghai nonferrous metals mostly closed with gains as the People’s Bank of China (PBoC) announced to raise the foreign exchange RRR by 2 percentage points to 9%, which boosted the export market. Shanghai copper added 0.23%, aluminium gained 2.07%, lead advanced 1.88%, zinc jumped 1.26%, tin rose 0.1%, and nickel lost 0.32%. Copper: The most-traded SHFE 2201 copper closed up 0.23% or 160 yuan/mt at 69570 yuan/mt, with open interest up 673 lots to 136367 lots. On the macro front, the US consumer confidence picked up unexpectedly at the beginning of December, according to US...