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METALS-Shanghai metals ease as initial optimism over Beijing's growth pledge fades
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METALS-Shanghai metals ease as initial optimism over Beijing's growth pledge fades
Jul 23, 2025 1:41 AM

(Updates prices to Asian market close, updates headline and

paragraph 1, adds comments and details)

By Hongmei Li

SINGAPORE, July 23 (Reuters) - Prices of most traded

metals on the Shanghai Futures Exchange eased on Wednesday, as

initial euphoria over Beijing's recent pledge to stabilize

industrial growth faded and traders kept a close watch on

developments in China-U.S. trade talks.

SHFE aluminium was down 0.34% at 20,790

yuan($2,902.37) per ton, as of 0725 GMT, lead eased

0.5% to 16,810 yuan, nickel edged 0.1% lower to 123,220

yuan, and copper receded 0.08% to 79,590 yuan.

Zinc climbed 0.5% to 22,975 yuan, hovering at its

highest point since April 1, and tin advanced 0.42% to

268,540 yuan.

"Beijing's comments about stabilizing the industrial growth

last Friday have been encouraging, though the support is more on

sentiment, which has been fully reflected in the price

strengthening in the past couple of days," said a Beijing-based

metals analyst from a futures company.

Meanwhile, participants in Chinese metals markets closely

monitored progress in U.S.-China trade discussions.

U.S. and Chinese officials will meet in Stockholm next week

to discuss extending the deadline for trade deal negotiations,

U.S. Treasury Secretary Scott Bessent said on Tuesday. The

original deadline was August 12.

Lifting global sentiment, U.S. President Donald Trump said

on Tuesday Washington and Japan had struck a trade deal that

includes a lower 15% tariff that will be levied on U.S. imports

from the country, including autos.

"Japan's 15% tariff has been better than expected and the

best deal so far, which may shed some light on U.S.-China talks

too, wondering what will be discussed when Trump visits China,"

the analyst added.

Trump said that he may visit China soon for a landmark trip

to address simmering trade and security tensions between both

the superpower economies.

Aluminium fell the most among the metals on the

London Metal Exchange, down 0.85% at $2,636 a ton, tin

dropped 0.44% to $33,760, copper went down 0.42% to

$9,877.5, zinc eased 0.35% to $2,850, and nickel

was flat at $15,525, while lead gained 0.17% to

$2,014.5.

For the top stories in metals and other news, click

or

($1 = 7.1631 Chinese yuan)

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