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%.

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%

Activity across Chinese copper downstream industries expanded in March last month, after registering a record contraction in the prior month

This is the smelter’s routine annual maintenance, which is expected to reduce output of copper cathode products by 6,000-7,000 mt.

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%. 

The spot copper market may continue to see oversupply in the near term on expectations of cargo inflow after the delivery of the SHFE February contract and a slow recovery of downstream demand on the

LME base metals closed higher across the board overnight

LME base metals, except for zinc and nickel, cruised higher on Thursday