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SHFE's Cu, Al and Ni prices all decline WoW

ABSTRACT

As of December 3, the most-traded copper, nickel and aluminum contracts on the Shanghai Futures Exchange (SHFE) all posted on-week losses when their daytime trading sessions ended. Market insiders remarked that the new COVID-19 variant detected in South Africa had triggered market concerns about the negative impact the variant might have on global economic recovery.
On Friday, SHFE's January 2022 copper and aluminum contracts fell by Yuan 1,600/tonne ($251/t) and Yuan 305/t from last Friday's settlement prices to close the daytime trading session at Yuan 69,460/t and Yuan 18,975/t respectively. Meanwhile, the bourse's nickel contract for February 2022 delivery slumped by Yuan 2,630/t to Yuan

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