Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were for the most part stronger this morning, Friday May 7, as were broader markets.

Base metals prices on the London Metal Exchange were a bit more mixed this morning, Thursday May 6, while the return of trading on the Shanghai Futures Exchange after the Labor Day holidays saw good gains in all metals apart from zinc.

China's new tax regime for ferrous raw materials and steel exports will kick off a new era for the steel sector, one in which demand and supply will become more balanced and the country cuts its dependency on iron ore at a faster pace.

With Chinese markets closed, volume traded on the London Metal Exchange has been light this morning, Tuesday May 4, with 2,368 lots traded as of 6.14am. But the base metals were holding up in high ground with gains averaging 0.7%, led by a 1.1% rise in copper to $9,916.50 per tonne.

Base metals prices on the London Metal Exchange were higher across the board during morning trading on Thursday April 29, supported by a weaker dollar and bullish sentiment.

With the exception of lead on the Shanghai Futures Exchange, base metals prices were stronger this morning, Thursday April 29, reassured that Federal Reserve would keep policy loose and because United States President Joe Biden pumped up the outlook for the US by saying the country is “ready for takeoff".

With the exception of the June nickel contract, base metals prices on the Shanghai Futures Exchange were weaker this morning, Wednesday April 28.

Copper is once again pushing ahead with its advance toward $10,000 per tonne this morning, Tuesday April 27, and such is the upward momentum now across most of the complex that it has woken nickel up from its two-month slumber in low ground.

Aluminium prices on the London Metal Exchange set fresh multi-year highs on Wednesday April 21, while copper and tin shied away from previous highs, and the rest remain rangebound this morning.

Base metals prices on London Metal Exchange were up across the board this morning, Wednesday April 21, but those on the Shanghai Futures Exchange were mainly weaker, as were broader markets, while haven assets were bid for.