Recovery hopes tied into the rollout of Covid-19 vaccines and some brighter economic data has driven up bond yields that in turn has lifted the dollar, and that seems to be creating some hesitancy in the metals this morning, Wednesday February 17.

With China still on holiday, base metals prices on the London Metal Exchange have been consolidating this morning, Tuesday February 16, even though broader markets remain upbeat.

Even with Chinese market participants on holiday, base metals prices on the London Metal Exchange have for the most part been bullish on Monday February 15, with the exception of zinc.

The prospect of more than 5 million tons of additional flat-rolled steel production starting up in the United States by the end of this year has convinced some market participants that the current run of all-time record-high sheet prices must come to a screeching halt by summer.

Base metals prices on the London Metal Exchange were mainly weaker, while those on the Shanghai Futures Exchange were mainly firmer this morning, Thursday February 4, with the weaker dollar likely weighing on dollar-denominated prices.

Market fundamentals have reasserted their influence on copper pricing in the first quarter of 2021, but macro forces are expected to push and pull the red metal’s price in the near term, driving volatility.

Market participants in the aluminium industry are calling for more transparency in low-carbon aluminium pricing, following recent global initiatives to lower carbon emissions that have created greater demand for such products.

South African manganese miner Assmang has declared force majeure on some shipments after state transport provider Transnet issued the same notice last week.

London, February 2 2021 (Press Release) – Euromoney Institutional Investor PLC (“Euromoney”), the international information services provider of essential information to global and specialist markets, announces the acquisition of 100% of The Jacobsen, an agricultural Price Reporting Agency (“PRA”) that predominantly serves the US agricultural commodity markets. The acquisition expands Fastmarkets global presence in agriculture, building on our recent acquisition of AgriCensus in 2020.

Base metals prices on the London Metal Exchange were up across the board this morning, Monday February 1, this despite weaker-than-expected manufacturing purchasing managers’ index (PMI) data out of China over the weekend.