The board of Chilean lithium producer Sociedad Quimica y Minera (SQM) has approved the company’s investment in the Mount Holland lithium project in Western Australia, it said on Wednesday February 17.

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.

With Greater China on holiday, base metals trading on the London Metal Exchange has been quiet this morning, Friday February 12, with prices little changed and trading volumes light - but so far prices are holding up in high ground.

With markets in China and much of Southeast Asia closed on Thursday February 11 ahead of Lunar New Year, trading on the London Metal Exchange this morning has been quiet with the base metals ranged between being down by 0.3% and up by 0.2%.

China increased refined and unrefined copper imports by over 31% year on year in 2020, whereas scrap inflow shrank significantly, reflecting the import policy change for waste products that came into force at the end of the year.

Base metals prices were putting in a strong performance on the last trading day before the Chinese New Year holiday, with all the metals, with the exception of an already strong tin, seeing gains this morning, Wednesday February 10.

With the exception of tin, base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were firmer this morning, Tuesday February 9, as were the precious metals and oil, while the US dollar continued with its recent pullback.

Peru reported a year-on-year decrease in copper production for the second month in a row in December, while zinc output continued to recover, according to the latest data from the country's Ministry of Energy & Mines (Minem).