SHFE nickel, aluminum futures drop, copper gains further on week

Major futures prices for key non-ferrous metals on the Shanghai Futures Exchange (SHFE) – nickel, aluminum, and copper – moved in contrasting directions during the December 5-12 week, with nickel and aluminum futures declining, while copper continued to rise.

By 3 p.m. on Friday, the most-traded January 2026 nickel futures contract had fallen by 1.9% from the previous week to close the daytime trading session at Yuan 115,590/tonne ($16,383/t), while the most-traded February 2026 aluminum contract had slipped by 1% on week to Yuan 22,170/t. In contrast, the