Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Wednesday December 12, with average gains of 0.3%. This after the complex climbed by an average of 0.4% on Tuesday, which followed Monday’s test of support levels – that held.

Further weakness in China’s Caixin manufacturing purchasing managers’ index (PMI), that fell to 48.3 in January from 49.7 in the prior month, was enough to dent confidence in the base metals market this morning, Friday February 1, with prices for the most part weaker as a result.

Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.8% this morning, Tuesday March 5. Volume was well above average with 12,645 lots having changed hands on Select as at 06.30am London time, compared with 6,685 lots at a similar time on Monday.

With three-month base metals prices on the London Metal Exchange having come off their weekly highs, most metals remained under selling pressure and have continued to consolidate this morning, Friday March 22.

Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday March 21, while the market digested the messages from last night’s US Federal Open Market Committee (FOMC) meeting.

Three-month base metals prices on the London Metal Exchange were for the most part still consolidating the gains seen at the end of last week, following weakness on Monday January 28, an up day on Tuesday, and now awaiting further direction.

Ferrous scrap prices in the major global markets remained firm during the working week from Monday April 30 to Friday May 4, with single exception of the United States.

Three-month base metals prices are up an average of 0.5% on the London Metal Exchange this morning, Tuesday May 2, with aluminium and lead prices slightly weaker while the rest are up between 0.3% for tin prices and 1.4% for zinc prices, with copper prices up 0.7% at $5,777 per tonne.

Taiwan’s Feng Hsin Steel has decided to revamp its operations and cut production costs instead of resorting to importing low-priced billet from China like some of its peers have been doing.

A dovish US Federal Reserve stance, a weaker dollar and a firmer Chinese yuan, which may indicate confidence in US-China trade talks, are all helping to underpin the three-month base metals prices on the London Metal Exchange this morning, Thursday January 31.