Most non-ferrous metals climbed on Monday as supportive economic measures from top consumer China boosted sentiment, while upbeat demand for copper also lifted prices.
Three-month copper on the London Metal Exchange was up 0.3 percent at $8,120 per metric ton, while the most-traded December copper contract on the Shanghai Futures Exchange advanced 1 percent to 67,310 yuan ($9,199.75) a ton.
LME aluminum rose 0.5 percent to $2,231.50 a ton, zinc advanced 0.2 percent to $2,477, tin increased 0.7 percent to $25,070, while lead fell 0.5 percent to $2,113 and nickel was flat at $18,374.
SHFE aluminum was up 1.9 percent at 19,220 yuan a ton, nickel increased 1.2 percent to 146,710 yuan, zinc climbed 1.5 percent to 21,280 yuan, lead rose 0.6 percent to 16,300 yuan and tin was 1.5 percent higher at 214,860 yuan.
Yangshan copper premium hit $91.50 a ton late last week, more than triple since the start of August and the highest level since November 2022, indicating rising needs to import copper into China.
Profits at China’s industrial firms extended gains for a second month in September, adding to signs of a stabilizing economy as the authorities launched a burst of supportive policy measures.
