The base metals remain upbeat this morning, Wednesday December 9, with all the metals on the London Metal Exchange in positive territory on hopes that a US stimulus package may be on the way.

China’s Tianqi Lithium’s wholly-owned subsidiary Tianqi Lithium Energy Australia Pty Ltd (TLEA) has brought in new strategic investor Australia-listed IGO Ltd as a 49% stakeholder, with both parties signing an initial investment agreement on Wednesday December 9.

The base metals remain upbeat this morning, Tuesday December 8, and the underlying story remains the same, infrastructure spending, economic recovery, a mass of liquidity and the potential for more US stimulus.

The global economy looks stronger again - Chinese exports were up by 21.1% in November year on year - but the base metals were mixed on Monday December 7, having been exceptionally strong recently , so perhaps the market realizes a lot of the good news is baked in already.

Swiss miner-trader Glencore and Chinese battery materials producer GEM have extended their agreement for cobalt hydroxide supply by another five years.

The recent surge in copper prices might not lead to swathes of scrap being suddenly released into the market, as happened after a similar situation nearly a decade ago, sources told Fastmarkets this week.

Base metals prices on the London Metal Exchange were once again mainly stronger this morning, Tuesday December 1, helped by strong Chinese Caixin manufacturing purchasing managers’ index (PMI) data, but Shanghai Futures Exchange prices were more polarized.

Base metals prices were mainly stronger this morning, Monday November 30, helped by strong Chinese manufacturing purchasing managers’ index (PMI) data and a weaker dollar, but some of the metals are starting to look tired.

Deshnee Naidoo has been appointed as director, finance & business development, base metals, at Brazilian miner Vale, Fastmarkets understands.

The base metals remain buoyant on good volumes this morning, Friday November 27, but equity indices were looking mixed.