Copper hits record high as supply thins outside US
XLB•Other London and Shanghai metals
Among other LME metals, aluminium CMAL3 rose 0.23%, lead CMPB3 was flat, nickel CMNI3 added 0.12% and tin CMSN3 fell 0.26%.
On the SHFE, aluminium SAFcv1 rose 0.51%, zinc SZNcv1 jumped 2.37%, lead SPBcv1 fell 0.68%, nickel SNIcv1 slipped 0.55% and tin SSNcv1 rose 0.46%.
($1 = 6.7104 Chinese yuan renminbi)
Dollar moves and broader metals trade
Elsewhere, the U.S. dollar hovered around recent lows, making metals denominated in the greenback cheaper for holders of other currencies, although expectations that the Federal Reserve could raise interest rates in September remained a headwind for risk assets.
Zinc also rallied, with three-month LME zinc CMZN3 up 1.02% at $4,024 a ton by 0330 GMT, after touching $4,032, its highest in more than four years. And the most-traded SHFE zinc contract SZNcv1 jumped 2.37% to 27,635 yuan a ton, after touching 27,715 yuan, its highest since January 30.
