Base metals prices on the London Metal Exchange were mixed this morning, Wednesday November 25, as were those on the Shanghai Futures Exchange, but overall they seem to be consolidating in high ground, with copper having set a fresh high for the year at $7,360 per tonne earlier this morning.

The three-month copper price on the London Metal Exchange rose to a peak not seen since June 2018 this morning, Tuesday November 24, pulling the rest of the complex higher after a day of correction on Monday.

The base metals on the London Metal Exchange were firmer across the board this morning, Tuesday November 24, although those on the Shanghai Futures Exchange were mixed following the weakness seen on the LME on Monday.

The base metals were mixed this morning, Monday November 23, but the underlying trends remain bullish following recent fresh highs in most of the metals.

The base metals were generally upbeat this morning, Friday November 20, supported by demand expectations and a weaker dollar.

US copper scrap exporters are waiting to see how China’s new regulations affect the flow of scrap metal to the Asian country, which could have a significant impact on domestic copper scrap prices.

Commodity traders have long forecast that there would be consolidation in their own industry, and in some of the world’s biggest centers for metals business that has already started to happen.

The base metals were consolidating recent gains but generally holding up near high ground this morning, Thursday November 19 – this despite some nervousness emerging in wider markets about the rapid spread of Covid-19.

The metals were looking robust this morning, Wednesday November 18, and for the most part are managing to drive higher despite concerns about the rapid spread of Covid-19 and some mixed economic data of late.

After the outbreak of the global pandemic, governments around the world sought measures to relieve the economic pressures of imposed lockdowns, mainly in the form of stimulus packages.