Comex copper prices rose for the fourth consecutive session today, Wednesday October 12, with investor appetite continuing since China returned to the market Monday after the Golden Week holiday.

Base metals prices on the London Metal Exchange were on divergent paths this morning, Thursday October 12, with copper and nickel rebounding.

Base metals were mixed on the Shanghai Futures Exchange (SHFE) during Asian morning trading on Thursday October 12, with nickel leading the gainers amid strong fundamental support; while zinc was this morning's biggest loser, pressured by the continued rise in London Metal Exchange inventories.

Comex copper prices saw extended buying in the morning of Wednesday October 11 in the USA with Chinese investors providing a boost for the complex.

Base metal prices fell across the board on the London Metal Exchange in morning trading on Wednesday October 11, with lead and zinc leading the downward trend.

Base metals prices on the London Metal Exchange are weaker across the board by an average of 0.7% this morning, Wednesday October 11. Zinc prices lead the decline with a 1.3% drop, followed by lead prices (-1%), nickel (-0.7%), tin and aluminium (-0.5%), while three-month copper prices are off by 0.2% at $6,739 per tonne.

Base metals prices, with the exception of tin, on the Shanghai Futures Exchange (SHFE) were stronger during Asian morning trading on Wednesday October 11, amid renewed optimism in the markets after the International Monetary Fund (IMF) raised its global economic growth forecast.

Comex copper prices inched upward in the morning of Tuesday October 10 in the US, with markets remaining constrained following holidays in the USA, South Korea and Japan.

Base metals prices veered either side of overnight closing values during routine London Metal Exchange pre-market trading on Tuesday October 10, consolidating current levels as the market took stock of China’s post-holiday business resumption, traders said.

Metal Bulletin has reviewed the feedback received as part of its tungsten pricing consultation, launched in May this year.