Shanghai metals fall on US-North Korea tensions

Chinese base metals traded lower on Friday, pressured by uncertainty over US-North Korea tensions that was shifting investment into gold and low-risk instruments. "Rising geopolitical tension was once again the dominant theme in commodity markets," ANZ Bank said in a report.
North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the US Pacific island territory of Guam. The most-traded copper contract on the Shanghai Futures Exchange dropped nearly 2 percent to 49,970 yuan ($7,493.44) a tonne.
ShFE lead was also a big loser, falling 2.3 percent. LME lead was down 1 percent, distancing the contract further from six-month highs hit earlier in the week. ShFE aluminium ended 0.56 percent lower, while LME aluminium dropped 0.3 percent to $2,014 a tonne. ShFE zinc closed 2.08 percent lower.