The base metals remain buoyant on good volumes this morning, Friday November 27, but equity indices were looking mixed.

With just 35 days remaining until the United Kingdom withdraws from the European Union, the country’s potential departure from the EU single market could see its domestic aluminium scrap market face business-critical trade barriers that, according to market participants, would send the UK’s scrap industry hurtling backwards.

Base metals prices on the London Metal Exchange were mixed this morning, Wednesday November 25, as were those on the Shanghai Futures Exchange, but overall they seem to be consolidating in high ground, with copper having set a fresh high for the year at $7,360 per tonne earlier this morning.

The three-month copper price on the London Metal Exchange rose to a peak not seen since June 2018 this morning, Tuesday November 24, pulling the rest of the complex higher after a day of correction on Monday.

The base metals were mixed this morning, Monday November 23, but the underlying trends remain bullish following recent fresh highs in most of the metals.

China's expected recovery in air travel after the Covid-19 pandemic is expected to result in 8,600 new airplane purchases over the next 20 years, according to US manufacturer Boeing.

The base metals were generally upbeat this morning, Friday November 20, supported by demand expectations and a weaker dollar.

US copper scrap exporters are waiting to see how China’s new regulations affect the flow of scrap metal to the Asian country, which could have a significant impact on domestic copper scrap prices.

The base metals were consolidating recent gains but generally holding up near high ground this morning, Thursday November 19 – this despite some nervousness emerging in wider markets about the rapid spread of Covid-19.

The benchmark three-month aluminium price on the London Metal Exchange fell just short of the $2,000-per-tonne mark at the 5pm close on Wednesday November 18, ending the day at $1,998 per tonne, up by 1% from the previous day’s close.