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Base Metals Closed Mixed as US Dollar Weakened against Euro on Eased German Inflation
LME and SHFE base metals closed mixed last night. On the macro front, the dollar fell to its lowest level against the euro in a week on Thursday as data showed that inflation in Germany eased, boosting the euro. Concerns about the banking sector eased, sending the U.S. dollar index lower. Copper: LME copper prices closed at $9,001/mt last evening, up 0.23%. Trading volume was 14,000 lots and open interest stood at 251,000 lots. SHFE 2305 copper contract finished at 69,460 yuan/mt last evening, down 0.34%. Trading volume was 33,000 lots, and open interest stood at 172,000 lots. In terms of fundamentals, the import ... (full story)
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- Posted: Mar 30, 2023 11:15pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 650
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