Base metals prices on the London Metal Exchange were mixed this morning, Tuesday March 2, while on the Shanghai Futures Exchange they were mainly weaker.

The benchmark A380.1 secondary aluminium alloy price and the London Metal Exchange’s North American special aluminium alloy contract (Nasaac) spiked to more than six-year highs, supported by healthy demand even as a semiconductor chip shortage disrupts automotive supply chains.

Aluminium crossed the $2,200-per-tonne mark and copper continued to extend its bullish rally on the London Metal Exchange during morning trading on Thursday February 25, with a softer US Dollar Index supporting higher prices in the complex.

Apart from nickel on the London Metal Exchange, the rest of the base metals on both the LME and Shanghai Futures Exchange were once again stronger this morning, Thursday February 25.

For a fourth trading day in a row, copper’s three-month price on the London metal Exchange rose to a new year-to-date high on Tuesday February 23, while the rest of the base metals traded slightly lower than where they were on Monday, when they all reached fresh 2021 highs.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed, although copper prices on both exchanges remain strong this morning, Tuesday February 23, while tightness on the LME dominates.

Century Aluminum sees United States President Joe Biden’s reinstatement of Section 232 tariffs on the United Arab Emirates (UAE) as a signal of his support for the tariff program implemented by his predecessor, an interpretation shared by many in the US aluminium market.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Friday February 19, on the back of expectations for stronger demand from a widespread recovery and due to the underlying momentum.

China’s metals industry returned from holiday to find metal prices were higher and it would appear have chased prices higher, with all the base metals on the London Metal Exchange and Shanghai Futures Exchange showing gains this morning, Thursday February 18.

Recovery hopes tied into the rollout of Covid-19 vaccines and some brighter economic data has driven up bond yields that in turn has lifted the dollar, and that seems to be creating some hesitancy in the metals this morning, Wednesday February 17.