Volatility has picked up in the base metals trading on the London Metals Exchange in recent days, with prices down an average of 0.4% this morning, Thursday March 23. This is after prices rebounded on Wednesday afternoon following a bout of weakness that started on Monday.

With Chinese participants returning from holiday, they have taken to selling into the recent metal price gains, with the three-month base metals prices on the London Metal Exchange for the most part weaker during morning trading on Tuesday September 25.

The upward trend in steel billet market prices resumed last week in most global markets, despite signs of a slowdown in the Chinese steel market, sources told Metal Bulletin.

Iranian steel billet has been quietly gaining acceptance in the global market because of its attractive prices compared to material from other suppliers.

Base metals prices on the London Metal Exchange are generally higher this morning, Friday January 12, with prices fairly uniformly up between 0.5% and 0.6% - apart from tin prices that are down 0.1% at $20,159 per tonne. Three-month copper prices are up by 0.5% at $7,167 per tonne and zinc prices have been as high as $3,405 per tonne, which is a fresh multi-year high.

Manganese ore prices continued to firm on Friday September 15 as sentiment was boosted by a gradual drawdown in stocks in China and anticipation of further strengthening in the steel sector.

The fledgling rebounds in the base metals seen in the second half of August have stalled and in the case of nickel have been reversed with prices setting fresh lows this morning, Monday September 3.

Stronger than expected Chinese official PMI manufacturing data at 51.7, compared with 51.4 previous and 51.3 expected, has given most of the base metals a boost this morning, Thursday August 31.

The Commonwealth of Independent States (CIS) region’s export slab price lost its premium to corresponding billet in 2017, driven by a combination of an easing international slab market and a tightening billet market.

Base metals prices on the London Metal Exchange were for the most part firmer on the morning of Wednesday May 2, with five of the six base metals showing gains averaging 0.6%, while tin bucked the trend with a 0.1% decline. Copper led on the upside with a 1% gain to $6,816 per tonne.