SHFE metals down on market jitters about economy
Oct 19, 2018 18:15
Futures prices of most non-ferrous metals including copper, aluminum, zinc and nickel on the Shanghai Futures Exchange lost ground this week on macro-economic factors, both in the domestic and global markets, which investors believed reflected a gradual slowing economy, market sources said.
The most traded January nickel contract on SHFE declined the most, dropping by Yuan 2,230/tonne ($321.7/t) on week to close at Yuan 103,440/t as of 3:00pm on October 19.
Similarly, as of October 18, the cash settlement price for nickel on London Metal Exchange witnessed a total decline of $570/t