SHFE nonferrous metals closed higher across the board on Friday December 18.
SHANGHAI, Dec 18 (SMM) – SHFE nonferrous metals closed higher across the board on Friday December 18.
“The bigger picture here is that the market is getting hopeful for some resolution of Brexit and (US) fiscal stimulus talks,” said Bank of Singapore currency analyst Moh Siong Sim.
Even soft US economic data, rather than driving a safety bid for dollars, is increasing investors’ expectations for a government spending package, Sim said, which would lift consumption and risk appetite and weigh on the greenback.
Aluminium was the best performer with a rise of 1.91%. Copper advanced 1.75%, lead edged up 1.53%, tin climbed 0.17%, zinc increased 1.36% and nickel went up 1.28%.
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Investors take some money off table after week of dollar selling
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