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%.

Chinese silicon plants may face difficulties to resume production as scheduled in the wet season starting from June as the global widespread COVID-19 has disrupted the supply chain and led to a shortage of raw material wood charcoal. SMM learned that most silicon plants have conducted maintenance and tried to secure feedstock for the preparation of resumption.

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.

Social inventories of stainless steel in China showed signed of declines at end-March, after the stocks hit the highest level on record last month. However, downstream demand has yet to recover sufficiently to support a sustained slide in the inventories, which may threaten lingering inventory pressure in April that will keep stainless steel prices under pressure. 

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

Trades in the spot copper market in Shanghai were active with spot premiums rising on the morning of March 31 as upbeat data on China’s manufacturing activities improved market sentiment and led to...

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.

Transactions of spot copper were active in Shanghai on the morning of Friday March 27 as traders stepped up purchases on reduced futures prices. This prompted spot cargo holders to lift premiums.