Shanghai nonferrous metals closed mostly with losses with insufficient upside momentum. On the macro front, the Federal Reserve FOMC announced its interest rate resolution with a 25bp rate hike, which is in line with market expectations. Fed Chairman Jerome Powell said that "Given our expected economic outlook, I don't think we'll cut rates this year." The market is widely expecting the Fed to continue to raise rates by 25 bp in March, but Powell stressed that he does not hold any certainty about the May FOMC meeting. The dollar index dropped to around 100, boosting risky assets denominated in US dollar.

SHFE copper fell 0.72%, aluminium edged down 0.03%, lead gained 1.09%, zinc lost 0.84%, tin dropped 2.27%, and nickel slid 2.76%.