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.

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.

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

Markets were generally buoyant this morning, Thursday November 26, with more certainty on the horizon than of late, helped by US president-elect Joe Biden’s transition to the White House and with a rollout of the vaccines now insight, if things go according to plan.

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.