Base metal prices on Shanghai Futures Exchange were all higher during Asian morning trading on Friday November 10, with lead the outperformer as it finds support from expectations of increased demand, while environmental crackdowns in China have tightened supply of the metal.

China copper buyers and sellers can now speculate on or hedge out forward premiums without signing long-term contracts.

Metal Bulletin Research rounds up the sentiment at LME Week as ‘fairly upbeat’, with that bullishness rooted in supply-side themes and optimism for electric vehicles. But there was certainly a sense among many that prices have already done enough on the upside for the time being. And while China’s economy will continue to expand next year, growth will be slower, and as we’ve seen in the past few years, the market is quick to get bearish when China slows. So we’d summarise sentiment as cautiously bullish overall.

Base metals traded on the London Metal Exchange remain under downward pressure this morning, Wednesday November 8, posting an average loss of 0.2%.

Base metals traded on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Wednesday November 8, with nickel the worst performer as investors closed positions to lock in profits, while copper and zinc were pressured downwards by concerns of soft demand.

Base metals traded on the London Metal Exchange witnessed marginal profit-taking this morning, Tuesday November 7, with the complex down by an average of 0.4%.

Base metal prices on the Shanghai Futures Exchange were mostly lower during Asian morning trading on Tuesday November 7, with nickel succumbing to profit-taking after its climb in the previous session.

Base metals prices on the London Metal Exchange are for the most part firmer this morning, Monday November 6, with prices up by an average of 0.7%.

Copper prices on Shanghai Futures Exchange edged lower during Asian morning trading on Monday November 6, due to concerns over rising domestic stocks and the upcoming low-consumption season.

Base metals prices on the London Metal Exchange are mixed this morning, Friday November 3. Nickel remains the main mover with a 1% gain to $12,695 per tonne, while lead and tin prices are up by 0.3%, zinc prices are lower by 0.3% and aluminium and copper prices are little changed with the latter at $6,932 per tonne.