The Chinese government has allowed a rollover of local governments’ debts, a move that is seen to ensure that ongoing infrastructure projects are not left uncompleted due to lack of funds.

Base metals prices had a strong start to the trading week after a solid close on Monday April 16. Two metals dominated the headlines yesterday: the London Metal Exchange’s three-month aluminium price continued its vertical surge, while nickel closed above $14,000 per tonne amid growing concerns that the United States could implement additional sanctions on Russia.

Freight costs from Russia to Turkey for material from Rostov have edged up because of the high volumes of grain shipments, sources told Steel First this week.

Algeria imported 2.27 million tonnes of steel with a value of $1.72 billion in the first half of 2012, according to figures recently released by the country’s customs authority.

The three-month base metals prices traded on the London Metal Exchange were mixed on the morning of Monday February 18.

Three-month base metals prices on the London Metal Exchange were slightly firmer during morning trading on Tuesday April 2, up by an average of 0.2% but still down from Monday's highs.

China’s return to the market after a week-long break for Lunar New Year has not brought with it a rush to restock and that has led to some disappointed selling across the base metals traded on the London Metal Exchange, with the complex down by an average of 0.9% this morning, Monday February 11.

Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Tuesday December 11, with average gains of 0.2%. This after they again tested support levels on Monday, when support held to varying degrees.

Base metals continue to face headwinds from the continuing trade dispute between the United States and China, but also from tension over the arrest of Huawei's chief financial officer, Brexit, social unrest in France and stuttering equity markets.

Some progress at the Group of Twenty (G20) summit on US-China trade has given the three-month base metals prices on the London Metal Exchange a boost, up by an average of 1.4%.