Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Thursday January 21, showing dips and pauses are attracting further buying, with tin and nickel leading on the upside.

There were gains across the board for the London Metal Exchange base metals this morning, Wednesday January 20, with a weaker US Dollar Index and a firm commitment on further stimulus in the United States pushing copper and aluminium up by 1.2% and 1% respectively.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were once again mixed this morning, Wednesday January 20, but the likelihood of plentiful US fiscal stimulus in the days ahead is likely to underpin markets at least for a while, although any new measures to tackle Covid-19 may well become a headwind.

Covid-19 appears to have claimed another casualty: the London Metal Exchange ring trading floor.

Aluminium producer Rusal has partnered with Henan Mingtai Aluminium to deliver low-carbon aluminium products to meet growing market demand, it said on Tuesday January 19.

Copper was the only base metal on the London Metal Exchange to register a gain during morning trading on Tuesday January 19, while aluminium’s forward price continued to drop and tin recorded the biggest decline, with the complex still capped by a firm dollar.

Base metals prices on the London Metal Exchange were mixed this morning, Tuesday January 19, but aluminium prices have followed recent weakness in zinc, breaking support levels in the process.

The base metals on the London Metal Exchange were mainly stronger this morning, Monday January 18, aided by some strong economic data in China, including gross domestic product (GDP) that showed growth of 6.5% year on year in the fourth quarter, which was stronger than the 6.2% expected and up from 4.9% in the third quarter.

Trade groups representing different segments of the aluminium industry appealed to the incoming United States presidential administration to take contrary actions on the Section 232 aluminium tariffs.

The London Metal Exchange base metals failed to hold on to the excitement from US President-elect Joe Biden’s speech overnight, with zinc and nickel the hardest hit and copper once again falling below $8,000 per tonne on Friday January 15 and most of complex trading in negative territory.