SHANGHAI, May 18 (SMM) – SHFE nonferrous metals all closed higher on Tuesday May 18. Copper rose 1.9%, aluminium added 0.46%, zinc soared 4.64%, nickel surged 3.18%, lead jumped 2.58% and tin advanced 0.9%.
SMM data showed that a total of 80 vessels carrying 12.18 million mt of iron ore arrived at major Chinese ports during May 9-15, SMM estimates. This was up 850,000 mt from the previous week but down 1.33 million mt from the same period last year.
Copper: The most-traded SHFE 2106 copper contract finished the day 1.9% higher at 76,100 yuan/mt, with open interest losing 2,278 lots to 119,141 lots.
Dallas Federal Reserve President Robert Kaplan on Monday reiterated his view that he does not expect interest rates to rise until next year, fuelling a further decline in bets that inflationary pressure could force the Fed to act sooner. Brent crude oil futures were up 20 cents, or 0.3%, at $69.66 a barrel by 0231 GMT, and this, together with concerns on strikes at Chile copper mines, boosted copper prices.
Key economic data including US new house starts and building permits for April and Eurozone first-quarter GDP will be released tonight.
Aluminium: The most-active SHFE 2106 aluminium contract gained 0.46% to close the day at 19,715 yuan/mt, with open interest decreasing 19,908 lots to 151,000 lots.
Zinc: The most-liquid SHFE 2106 zinc contract soared 4.64% to end the day at 23,220 yuan/mt, with open interest adding 3,989 lots to 72,128 lots.
Nickel: The most-traded SHFE 2106 nickel contract surged 3.18% to finish the day at 134,450 yuan/mt, with open interest rising 2,239 lots to 89,234 lots.
Lead: The most-active SHFE 2106 lead contract jumped 2.58% to close the day at 15,500 yuan/mt, with open interest rising 1,551 lots to 498,257 lots. Whether the contract could steady above the 15,500 mark tonight will be monitored.
Tin: The most-liquid SHFE 2107 tin contract added 0.9% to end the day at 198,690 yuan/mt, with open interest adding 1,213 lots to 34,766 lots, and it is expected to continue to test the 200,000 mark tonight.
![Los precios del cobre se dispararon y las primas al contado subieron a la par, pero las compras de los consumidores intermedios siguieron activas [Cobre al contado del sur de China de SMM]](https://imgqn.smm.cn/usercenter/udUol20251217171712.jpg)
