SHFE nonferrous metals, except for aluminium, opened lower on Monday July 20, extending losses from last Friday night as the continued surge in global new cases of coronavirus kept investors cautious. Copper gave up gains from last Friday and slipped slightly in early trades this morning. Nickel fell close to 2%, zinc lost nearly 1.5%, while aluminium extended increase from Friday and climbed more than 1%.  On last Friday night, LME and SHFE base metals traded lower for the most part.  Prices of copper moved higher last Friday as lingering concerns about the coronavirus impact on the mining front continued to support the red metal. Three-month LME copper gained 0.42% and finished at $6,437/mt with the most-active SHFE contract finishing marginally higher at 51,440 yuan/mt. Uncertainty around the COVID-19 development in the US and the US-China trade tensions sparked risk aversion in the market.