Base metals prices on the London Metal Exchange were a bit more mixed this morning, Thursday May 6, while the return of trading on the Shanghai Futures Exchange after the Labor Day holidays saw good gains in all metals apart from zinc.

With Chinese markets closed, volume traded on the London Metal Exchange has been light this morning, Tuesday May 4, with 2,368 lots traded as of 6.14am. But the base metals were holding up in high ground with gains averaging 0.7%, led by a 1.1% rise in copper to $9,916.50 per tonne.

Base metals prices on the London Metal Exchange were higher across the board during morning trading on Thursday April 29, supported by a weaker dollar and bullish sentiment.

With the exception of lead on the Shanghai Futures Exchange, base metals prices were stronger this morning, Thursday April 29, reassured that Federal Reserve would keep policy loose and because United States President Joe Biden pumped up the outlook for the US by saying the country is “ready for takeoff".

Demand for refined copper in China has now surpassed levels seen prior to the Covid-19 pandemic, according to Vancouver, Canada-based Teck Resources.

Fastmarkets proposes to revise the outlier detection method used in the calculation of its copper concentrate treatment and refining charge (TC/RC) index to reflect timely changes of an increasingly active spot market.

With the exception of the June nickel contract, base metals prices on the Shanghai Futures Exchange were weaker this morning, Wednesday April 28.

Copper is once again pushing ahead with its advance toward $10,000 per tonne this morning, Tuesday April 27, and such is the upward momentum now across most of the complex that it has woken nickel up from its two-month slumber in low ground.

Copper led the London Metal Exchange base metals higher this morning, Monday April 26, and most of the base metals on the Shanghai Futures Exchange were up too, while the market continued to benefit from the strong purchasing managers’ index (PMI) data that was out on Friday.

The base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were mixed this morning, Friday April 23, as were the wider markets while US President Joe Biden prepares to announce his plans on tax.