Base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were mixed this morning, Tuesday March 9, with prices generally consolidating after recent weakness, while there are cross currents in the form of bond yields, stimulus and inflation expectations affecting sentiment.

China will actively promote the development of offshore wind power as part of its effort to build clean energy infrastructure across the country, according to a carbon neutrality action plan issued by State Grid Corporation of China on Monday March 1.

Base metals prices on the London Metal Exchange were in consolidation mode on Tuesday March 2, with tin declining slightly following a near 9% dive on Monday and nickel decreasing by 1%, amid a stronger US Dollar Index, which is at its highest since the first week of February.

For a fourth trading day in a row, copper’s three-month price on the London metal Exchange rose to a new year-to-date high on Tuesday February 23, while the rest of the base metals traded slightly lower than where they were on Monday, when they all reached fresh 2021 highs.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed, although copper prices on both exchanges remain strong this morning, Tuesday February 23, while tightness on the LME dominates.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Friday February 19, on the back of expectations for stronger demand from a widespread recovery and due to the underlying momentum.

China’s metals industry returned from holiday to find metal prices were higher and it would appear have chased prices higher, with all the base metals on the London Metal Exchange and Shanghai Futures Exchange showing gains this morning, Thursday February 18.

Recovery hopes tied into the rollout of Covid-19 vaccines and some brighter economic data has driven up bond yields that in turn has lifted the dollar, and that seems to be creating some hesitancy in the metals this morning, Wednesday February 17.

After reviewing the initial feedback on its proposal to launch a weekly price assessment for ferro-niobium, delivered consumer works Europe, duty paid, Fastmarkets MB is extending the consultation period by two weeks.

With markets in China and much of Southeast Asia closed on Thursday February 11 ahead of Lunar New Year, trading on the London Metal Exchange this morning has been quiet with the base metals ranged between being down by 0.3% and up by 0.2%.