Stronger-than-expected United States employment figures on Friday August 6 turned the dollar higher, which weighed on prices, with most base metals weaker this morning, Monday August 9, but gold and silver underwent a ‘flash crash’ at the start of trading in Asia.
Most base metals registered declines in inventories at Shanghai Futures Exchange-registered warehouses during the week to Friday July 30, although lead was up by 6.5% and nickel rose by 1.5%.
While copper and tin prices are showing some hesitancy on the London Metal Exchange, most of the other base metals are looking robust this morning, Friday June 25, and all the base metals in Shanghai are upbeat too.
Metals continue to languish in high ground during morning trading on Monday June 14, with tin being the exception as it continues to push higher on strong fundamentals due to supply disruptions.
LME base metals have looked tired, having lost their upward momentum in the past few days, but underlying support looks plentiful, with all the base metals on the SHFE being in positive territory this morning, Wednesday June 9.
Aluminium prices on the London Metal Exchange set fresh multi-year highs on Wednesday April 21, while copper and tin shied away from previous highs, and the rest remain rangebound this morning.
LIVE FUTURES REPORT 12/04: LME nickel price falls 2.8%; zinc stocks up 5% following deliveries in Asia
The London Metal Exchange three-month nickel price was down by 2.8% to $16,165 per tonne during morning trading on Monday April 12, with the other base metals also starting the week lower after turning to the downside last Friday following comments out of China regarding rising commodity prices.
The base metals on the London Metal Exchange were mainly weaker this morning, Friday January 15, while those on the Shanghai Futures Exchange were mainly firmer in line with the stronger Chinese fundamentals.
Markets seem to be anticipating a Democratic win in the Georgia Senate run-off this morning, Wednesday January 6, and that could be bullish for commodities because a Democratic-controlled US Congress could push through larger fiscal stimulus packages.
Markets were generally buoyant this morning, Thursday November 26, with more certainty on the horizon than of late, helped by US president-elect Joe Biden’s transition to the White House and with a rollout of the vaccines now insight, if things go according to plan.