SHFE metals prices rise on week

China's derivatives markets for major nonferrous metals gained support from positive macroeconomic factors over November 4-8, with the most-traded futures contracts for copper, aluminum and nickel on the Shanghai Futures Exchange (SHFE) all trending higher on week.

As of Friday, the SHFE's most-traded aluminum and nickel contracts – both for December delivery – had climbed by 4.3% and 4.46% on week to close the daytime session at Yuan 21,690/tonne ($3,030.74/t) and Yuan 129,580/t respectively. Meanwhile, the most-traded December copper contract also gained 0.76% on week to close at Yuan 77,100/t on Friday. While China's demand for nonferrous metals