SHFE nonferrous metals closed mixed on Wednesday, as copper, aluminium, nickel and tin reversed a pullback at the open. Nickel jumped 1.9%, tin rose 0.6% and copper gained 0.4%, while aluminim dipped 0.1%, zinc fell 0.8% and lead dropped 1.2%.

Social inventories of lead ingots in China continued to trend downsides this week, but the decline slowed down from a week ago due to rising supplies of secondary lead.

Shanghai base metals, except for tin, opened higher on Friday morning, as oil prices skyrocketed overnight on hopes that Saudi Arabia and Russia could reach a deal.

SHFE nonferrous metals, except for tin, relinquished the increase from the previous day, with lead leading the losses and ending down 1.51%

London and Shanghai base metals cruised broadly lower in early morning trade on Monday, as investors continue to assess the economic impact of the global coronavirus pandemic that continues to spread rapidly.

SHFE nonferrous metals, except for nickel, extended their rally from the previous day as investors’ sentiment was lifted after the White House and Senate struck a coronavirus stimulus bill. SHFE tin continued to lead the increase, surging 4.23%. Aluminium gained 2.59% on news that some Chinese smelters cut production due to expanded losses amid the virus outbreak. Copper advanced 3.17%, lead increased 0.93%, zinc rose 0.71%, while nickel shed 0.52%. 

You can join our webinar on the latest impact from the virus, and a deep dive into the ferrous metals market (steel and iron ore), tomorrow ( February 19) at 5PM China time

Most of Chinese lead and zinc miners, smelters and consumers reported positive profit growth for 2019, according to annual results released so far

Logistics partially resumed, allowing lead smelters to move their in-plant stocks to social warehouses before the delivery of the SHFE February contract

LME base metals closed higher across the board overnight