Base metals prices on the London Metal Exchange were up across the board this morning, Tuesday August 10, this after a day of weakness on Monday – once again it looks like dips are being seen as a buying opportunity.

Stronger-than-expected United States employment figures on Friday August 6 turned the dollar higher, which weighed on prices, with most base metals weaker this morning, Monday August 9, but gold and silver underwent a ‘flash crash’ at the start of trading in Asia.

Steel scrap prices in the key global markets moved down over the week to Friday August 6 with demand for material remaining tepid.

Spot prices for imported containerized ferrous scrap in Taiwan continued on a downward trend in the week to Friday August 6 amid the current buyers' market caused by poor demand, market sources told Fastmarkets.

Base metals prices on the London Metal Exchange were mixed this morning, Wednesday August 4, and those on the Shanghai Futures Exchange were all weaker.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Tuesday August 3, with LME copper and SHFE aluminium bucking the trend, but the drop in US ten-year treasury yield hints of a pick-up in haven buying.

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The recent Covid-19 outbreak across southeast Asia is weighing on Thai aluminium billet demand in the region after five months of price rises, sources told Fastmarkets.

Base metals prices on the London Metal Exchange were generally trending higher this morning, Monday August 2, with copper the metal that seems to be struggling the most. Base metals trading on the Shanghai Futures Exchange gave a mixed performance, however.

Base metals prices on the London Metal Exchange were down across the board on Tuesday July 27, after a generally upbeat day on Monday, while the base metals on the Shanghai Futures Exchange were mixed this morning.