
Commodity futures in China saw significant gains on Friday, with Shanghai silver jumping 3.8% and gold rising 1.5% after reaching an all-time high. Zinc prices increased by 2.7%, tin by 1.2%, aluminum and copper by 0.9%, and nickel by 0.7%. Dalian Iron Ore rebounded by 1.5%. The Bloomberg Commodity Index (BCOM TR) is heading for a strong weekly rebound, up around 2.6%, led by softs and precious metals. Gold reached a fresh record high of approximately USD 2,570 in Asia. Zinc prices have risen over 5% in the past three days due to optimism over stronger Chinese demand and expectations of smelter output restrictions. Aluminum prices also rose amid signs of recovering demand in China and concerns over surging raw material costs. Additionally, LME inventories showed a decrease in aluminum and copper stocks, with aluminum falling by 3,500 tons to 820,850 tons and copper by 125 tons to 311,525 tons. Nickel and lead inventories also showed changes, with nickel increasing by 228 tons and lead remaining unchanged.

1) Bounce in BCOM index to 200-day moving average. 2) Dr. Copper stabilizing at $4/lb. 3) Gold breaks to new record high. Read more: FICC: Commodities https://t.co/zMbihm5xJo
#China's #Zijin Mining to benefit from production growth, rising prices of #copper, #gold - analysts https://t.co/TSDmaLKnoz
#Copper prices surge to two-week high amid boost in chinese demand