Base Metals Rise Amid Global Economic Uncertainty

Base metals prices on the domestic market mostly rose as of the midday close on September 29. SHFE copper and SHFE aluminum edged up, while SHFE lead rose 0.43%. SHFE zinc gained 0.42%, and SHFE tin increased by 0.49%. However, SHFE nickel fell 0.73%.

In contrast, the most-traded cast aluminum futures contract was flat at 23,650 yuan/mt, while the most-traded alumina contract fell 1.78%. The most-traded lithium carbonate contract declined by 0.31%, and the most-traded silicon metal contract edged up.

The most-traded polysilicon futures contract fell 2.58% as of the midday close. Iron ore prices decreased by 0.64%, while rebar rose 0.1%. Hot-rolled coil fell 0.15%, and stainless steel edged up.