Markets were generally buoyant on the back of relief that a potential Covid-19 vaccine has been found, but the metals also seem hesitant this morning, Tuesday October 11, about what this will mean to the markets given how much they have run up already since the March lows.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly lower this morning, Tuesday November 10, while prices consolidated after Monday’s double dose of positive news - that of Joe Biden winning the US presidential election and Pfizer announcing progress toward a potential Covid-19 vaccine.

Mitsui is to sell all of its 22.63% stake in Chile's Caserones copper mine, after posting a capital loss of more than ¥7 billion ($67.5 million), the Japanese company said on Monday November 9.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly stronger this morning, Monday November 9, after markets reacted positively to Joe Biden winning the US presidential election and the resulting weaker dollar.

Imports of unwrought copper and copper products to China rose significantly in the first 10 months of this year, according to customs data released on Saturday November 7.

Fastmarkets has launched two new coefficients for the copper concentrates market, with data available from November 2 and an update published for the first time on Friday November 6.

Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses were little moved in the week to Friday November 6, with the biggest percentage change seen in lead at 6.5%.

Fastmarkets is proposing to amend the frequency of its zinc spot concentrate treatment charges (TC) price assessment to fortnightly from its present monthly timing.

Market participants in China are increasingly confident that Chinese authorities will revive steel scrap imports into the country in 2021 following the release of new domestic scrap classification standards.

Chilean copper production was 0.8% lower year on year in September due to lower output from Escondida, the country’s copper commission, Cochilco, said on Tuesday November 3.