Yadelin Science and Technology to build 100,000 mt aluminium alloy capacity

Volkswagen announced in March that it had cut production by more than 100,000 vehicles in January and February due to the lack of chips. Honda Motor announced that its Mexican plant would cease production from March 18. General Motors announced the temporary closure of its plant in Lansing, Michigan, and it was expected that it would not restart operations before April this year.

SHFE nonferrous metals rose for the most part on Monday January 25. Copper edged up 0.07%, zinc added 0.74%, lead jumped 2.91%, nickel advanced 0.88% and tin surged 4.09%, while aluminium shed 0.17%.

Nonferrous metals on the SHFE were mostly higher on Thursday morning, and their counterparts on the LME rose across the board after stocks on Wall Street sailed to record highs as US President Joe Biden was sworn into office.

Shanghai base metals rose broadly on Wednesday January 20. Copper and zinc added 0.34%, lead rose 1.58%, nickel gained 0.14% and tin climbed 0.24%. 

LME base metals rose across the board on Monday morning, while their counterparts on the SHFE set for a mixed start.  

Nonferrous metals on the SHFE rose for the most part on Thursday morning, holding onto overnight gains, while their counterparts on the LME cruised lower mostly.

SHFE nonferrous metals closed mixed on Monday November 7. Investor sentiment improved last week around coronavirus vaccine rollouts and U.S. stimulus hopes, which fueled a record-setting session Friday on Wall Street.

Leo Yi, senior analyst at SMM, explained the challenges posed by the new solid waste law to China’s aluminium scrap supply and operations at secondary aluminium producers

Nonferrous metals on the SHFE were mostly lower on Wednesday morning, while their counterparts on the LME set for a mixed start.

Nonferrous metals on the SHFE and LME both fell broadly on Thursday morning, extending losses, as surging global COVID-19 cases triggered more restrictions and stoked concerns about economic recovery.