SHFE nonferrous metals rose across the board on Friday, as market sentiment was rallied after China’s Ministry of Finance pledged to make an early allocation of the special-purpose bond quotas for transportation infrastructure construction. 

Crude oil prices jumped on Thursday, following their biggest-ever quarterly losses, as US President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war.

Shanghai base metals opened mostly higher on Wednesday morning, as Beijing said that it will roll out a set of fiscal and financial policies to expand domestic demand, assist businesses reopening, sustain employment, and help all types of businesses to weather this difficult time.

SHFE copper and nickel declined and other base metals rose marginally on Thursday following two days of rallies. Remerged concerns about a coronavirus-driven global recession saw copper give up gains, despite the passage of a $2 trillion stimulus package in the US aimed at offsetting the economic fallout from the coronavirus.

While a handful of exploration companies in Africa are still looking to get a foot in the door, the tin (Sn) processing plant at Alphamin Resources’ (TSXV:AFM) (JSE: APH) Bisie mine is close to running at full tilt.

SHFE nonferrous metals, except for nickel, rose on Tuesday and regained losses from the previous day, as some of the virus-related fears were relieved by the US Federal Reserve’s open-ended asset purchase program. SHFE tin led the rebound with a rise of 5.98%. Copper advanced 4.29%, aluminium added 0.53%, lead gained 2.32%, zinc climbed 2.23%, while nickel shed 1.01%. 

Zinc rose 0.8%, tin climbed 0.7%, nickel advanced 0.6%, aluminium gained 0.2% and copper inched up 0.1%, while lead fell 0.6%.

Lead plunged 1.4% to lead the losses across nonferrous metals, zinc dropped 1.2%, copper fell 0.8%, aluminium shed 0.7%, and nickel lost 0.5%, while tin extended gains by 0.6%.

SHFE tin, copper and nickel advanced 1.4%, zinc rose 0.7%, aluminium gained 0.5%, while lead stayed flat.

Tin ore: While cargoes could make declaration at customs, tin ore imports from Myanmar remained disrupted as shipment to the domestic market has yet to recover