ASG 11 22, this morning non-ferrous metals market green manure red thin, by noon close, Shanghai tin rose nearly 1.9%, Shanghai aluminum Shanghai nickel Shanghai lead red near 0.04%, Shanghai copper Shanghai zinc fell slightly.

On the copper side, Rio Tinto faces renegotiation of the terms of its copper project in Mongolia after lawmakers approved plans to modify the agreement to make it more beneficial to Mongolia. Oyu Tolgoi, Mongolia's largest overseas investment project, has delayed production and soared costs, leaving the government impatient with revenues, while Rio Tinto says it has invested billions of dollars. Rio Tinto owns 66 per cent of THResources, a multibillion-dollar project, while Mongolia owns 34 per cent, and reached an agreement on terms of investment in 2015.

On the nickel front, the International Nickel Research Group (INSG) said recently that the global nickel market supply shortage increased to 3200 tons in September and revised to 300 tons in August. INSG added that there was a global supply shortfall of 50800 tonnes in the first nine months of this year, compared with a shortfall of 122800 tonnes in the same period last year.

In terms of lead, the weekly operating rate of the SMM recycled lead smelter was 52.2% in the three provinces this week (November 16-22), down 1.4% from the previous month, according to the (SMM) survey of Shanghai Nonferrous Color Network. "[SMM investigation] the weekly operating rate of recycled lead refineries is 52.2%.