Latest News

SHFE base metals increase on positive domestic financial news

Most base metals on the Shanghai Futures Exchange (SHFE) edged up on Wednesday, buoyed by positive macroeconomic news from the Chinese federal government.

China plans to enhance financial support for intake next year by increasing pensions and medical insurance subsidies for homeowners, and expanding trade-ins for durable goods, according to a finance ministry announcement on Tuesday.

On the other hand, Chinese authorities have consented to release 3 trillion yuan ($ 411.04 billion) worth of special treasury bonds next year, Reuters reported on Tuesday, pointing out two sources.

The most-traded January copper agreement on the Shanghai Futures Exchange (SHFE) rose 0.2% to 74,080 yuan ($ 10,149.61) a heap by 0330 GMT, the close of Asia early morning trade.

SHFE aluminium increased 0.2% to 19,880 yuan a lot, nickel rose 0.6% to 125,230 yuan, zinc climbed 1.2% to 25,420 yuan, lead slid 0.2% to 17,385 yuan, and tin edged up 0.6% at 245,550 yuan.

The London Metal Exchange (LME) will be closed for Christmas on Wednesday, and for Boxing Day on Thursday.

For the leading stories in metals and other news, click or

(source: Reuters)