Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Monday November 2, with the short-term outlook uncertain with much of Europe moving into tighter lockdowns, while China’s new five-year plans look supportive, as does the economic data out of China and Japan this morning.
MORNING VIEW: Base metals, with the exception of lead, hold up well considering nervousness in broader markets
Base metals prices on the LME and the SHFE were mixed this morning, Friday October 16, but overall were holding up well despite growing concern over the spread of Covid-19 across Europe and the United States.
Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses were little moved in the week to Friday November 6, with the biggest percentage change seen in lead at 6.5%.
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.
The United Kingdom and European Union have reached an agreement on a trade deal that will ensure tariff-free trading of most goods between the country and the bloc after December 31 when the withdrawal transition period ends, easing metals and minerals market participants’ fears of logistics paralysis and material shortages.
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly weaker this morning, Wednesday February 3, with zinc prices bucking the trend.
With China still on holiday, base metals prices on the London Metal Exchange have been consolidating this morning, Tuesday February 16, even though broader markets remain upbeat.
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part weaker while the market waits for direction from the US Federal Reserve when the Federal Open Market Committee (FOMC) concludes its meeting this evening.
The spodumene price cif China posted a sharp month-on-month increase at the end of January after a pick-up in customer inquiries, and market participants expect further rises against a backdrop of bullish supply-demand for the raw material and rising lithium chemical prices in China.
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.