Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally firmer this morning, Wednesday December 16, with prices holding up in high ground, backed by optimism that vaccines will lead to stronger recoveries next year, while the weaker dollar and concerns about inflation were also supportive.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Tuesday December 15, this despite some healthy Chinese economic data.

Base metals prices on the London Metal Exchange were mainly firmer this morning, Monday December 14, following the pullback from highs at the end of last week, but the base metals on the Shanghai Futures Exchange were mainly weaker while they followed Friday’s weakness on the LME.

The price of shredded steel scrap imported into India and Pakistan crossed $400 per tonne on Friday December 11 as a result of high international prices and tight shipping availability, sources told Fastmarkets.

Waiting times for aluminium at Istim warehouses in Port Klang, Malaysia, fell to just 30 days at the end of November, according to the London Metal Exchange’s latest queue report.

Base metals prices on the London Metal Exchange were down across the board this morning, Friday December 11, this after copper, zinc, nickel and tin set fresh highs for the year either on Thursday or earlier this morning.

Spot import prices for containerized ferrous scrap into Taiwan hit a historical high in the week to Friday December 11, because of delays to shipments from the United States West Coast, sources told Fastmarkets this week.

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.

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.