Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Thursday January 21, showing dips and pauses are attracting further buying, with tin and nickel leading on the upside.

There were gains across the board for the London Metal Exchange base metals this morning, Wednesday January 20, with a weaker US Dollar Index and a firm commitment on further stimulus in the United States pushing copper and aluminium up by 1.2% and 1% respectively.

Covid-19 appears to have claimed another casualty: the London Metal Exchange ring trading floor.

Aluminium producer Rusal has partnered with Henan Mingtai Aluminium to deliver low-carbon aluminium products to meet growing market demand, it said on Tuesday January 19.

After an extended consultation period, Fastmarkets has decided to amend its discount assessment for No2 copper scrap imported into China so that it is aligned with the country’s new import policy for such material.

Base metals prices on the London Metal Exchange were mixed this morning, Tuesday January 19, but aluminium prices have followed recent weakness in zinc, breaking support levels in the process.

Rabobank will close its commodity trade finance desks in London, Shanghai and Sydney after reviewing the embattled sector last summer.

After a rapid rise of domestic steel prices across Europe in the second half of 2020, market sources have been voicing concerns that the situation will echo the scenario in 2008 of a price spike quickly followed by a sharp fall.

Trade groups representing different segments of the aluminium industry appealed to the incoming United States presidential administration to take contrary actions on the Section 232 aluminium tariffs.

The base metals on the London Metal Exchange were mainly weaker this morning, Friday January 15, while those on the Shanghai Futures Exchange were mainly firmer in line with the stronger Chinese fundamentals.