forward contracts showing even more strength than the spot, good signs!
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The most-traded base metals contracts on the SHFE were quite polarized this morning, with September tin and October nickel down by 0.6% and 0.1% respectively, while the August contracts of the other metals were up by an average of 2.1% - led by a 3.9% gain in zinc. August copper was up by 1.9% at 50,620 yuan ($7,218) per tonne. One of the drivers of higher zinc prices is the fact that concentrate exports from the Red Dog mine have been delayed.