Markets across the board were in consolidation mode this morning, Thursday August 13, with metals and Asian-Pacific equities mixed, while pre-market major western equity index futures were weaker.

Increased choppiness in the base metals in recent days suggests the bullish and bearish camps are getting more balanced and a new fight for supremacy is unfolding.

The dip in base metals prices at the end of last week was a one-day wonder for copper and aluminium after prices for both metals rebounded yesterday, while consolidation has set in again this morning, Tuesday August 11, and the other metals continue to consolidate too.

The Shanghai Futures Exchange launched aluminium and zinc options contracts on Monday August 10 to meet growing desire for the important risk management tool, the exchange chairman said.

The three-month copper price on the London Metal Exchange was lower during morning trading on Friday August 7, with continued tightness across the front end of the metal’s forward curve deterring interest, while a marked improvement in German industrial production remains a key indicator of improving economic conditions in Europe.

Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday August 6, but the complex was up by an average of 0.4%.

Copper miners operating in the Democratic Republic of Congo (DRC) have been informed that they will not be able to renew their waivers to export copper concentrate from September onward, Fastmarkets has learned.

Three-month base metals prices on the London Metal Exchange were firmer this morning, Wednesday August 5, with gains averaging 0.3%.

Fastmarkets is extending its consultation on the launch of new copper material price and the potential discontinuation of its monthly assessment of the No2 copper scrap discount on a cif China basis.

Clients of Jinchuan Maike have cut exposure to the trader this week, coming at the same time that the company underwent a major management reshuffle.