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Today’s Stainless Espresso takes a quick look at the new Dow Jones record and the impact on Base Metals’ performance in Shanghai this morning. We also have an opinion on the EU trade agreements and that the EU Green Deal is becoming a serious problem for the industry and Europe’s trading partners.

Stainless Espresso: Base metals in Shanghai rise and a controversial opinion
Stainless Espresso: Base metals in Shanghai rise and a controversial opinion

Base metals in Shanghai rise after Dow hits record highs overnight

Non-ferrous metals on the SHFE rose across the board Friday morning, April 16, 2021, maintaining their gains from yesterday, while their counterparts on the LME were mixed after the Dow Jones Industrial Average surpassed 34,000 for the first time overnight on Wall Street and set a new record close.

Base metals all closed higher

Shanghai base metals all closed higher in overnight trading. Copper jumped 2.51%, aluminum gained 0.83%, zinc rose 1.41%, nickel rose 0.72%, lead gained 0.71% and tin rose 1.71%.

The LME complex, with the exception of nickel, rallied on Thursday. Copper rose 2.53%, aluminum rose 0.39%, zinc rose 1.34%, lead rose 1.53% and tin rose 1.42%, while nickel fell 0.31%.

European Union: The Green Reality Check – Opinion

Today in the also in Stainless Espresso the reference to a controversial opinion on a declaration of the European Union on the implementation of its approach to sustainability in trade agreements.

Where is the European Union’s Green Deal taking the confederation? What happens if the Green Deal destroys trade agreements? The future of EU industry is in danger.

Read our opinion here.

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