Half of the base metals prices on the London Metal Exchange have in recent days risen to multi-month highs, with copper reaching levels not seen since June 2018, and all of the metals are pushing higher this morning, Wednesday October 21.

Recycled copper and aluminium that meet China’s standards for renewable metals instead of solid waste can be freely imported into the country starting from November 1, according to the Chinese Ministry of Ecology and Environment.

Canada-based Lundin Mining Corp is to suspend operations at its Candelaria copper mine in Chile after mediation talks with a second union at the site failed to result in an agreement .

The London Metal Exchange three-month zinc price was the standout performer during morning trading on Monday October 19, with the price rallying by more than 2% on positive Chinese economic data and strong buying momentum, while queue and logistics concerns at Port Klang, Malaysia, resulted in some 38,000 tonnes of aluminium being placed back on-warrant in the region.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly firmer this morning, Monday October 19, supported by economic data out of China, especially the 6.9% rise in industrial production, but gross domestic production (GDP) data came in lower than expected.

Base metals prices on the LME and the SHFE were mixed this morning, Friday October 16, but overall were holding up well despite growing concern over the spread of Covid-19 across Europe and the United States.

With a virtual LME Week starting on Monday October 19, the base metals market is starting to focus on negotiating 2021 contracts. Here, read about how the evolving nature of virtual negotiations is affecting the aluminium, copper, nickel and tin markets.

Base metals prices on the LME and the SHFE were mixed this morning, Thursday October 15, with concerns over the spread of Covid-19 and the reduced likelihood of a US stimulus package any time soon dampening optimism.

Customs officials in southern China have impounded just under 10,000 tonnes of copper ‘concentrates’ after it turned out to be smelting waste, which is prohibited from entering the country.

Base metals prices on the London Metal Exchange were weaker across the board this morning, Tuesday October 13, while those on the Shanghai Futures Exchange were either unchanged or firmer, as were equities.