Growing optimism over the outlook for a trade agreement between the United States and China has led to a stronger tone across risk markets, including those for metals.

For the last couple of years it’s been all about the raw materials. First iron ore miners were looking for record increases at annual benchmark negotiations, then coking coal producers pitched for the same.

Global steel billet prices continued to rise in most markets in the week to Friday December 15 as customers continued to show interest in importing material.

Base metals on the London Metal Exchange were firmer this morning, Friday January 11, with three-month prices up by an average of 0.9%.

Timeline of global tax changes proposed or passed in 2011, affecting metals and mining companies:

Three-month base metals prices on the London Metal Exchange were little changed to weaker on the morning of Tuesday May 22, with prices down by an average of 0.3%.

Three-month base metals prices on the London Metal Exchange were for the most part firmer with gains averaging 0.6% on the morning of Friday October 19, but this follows a general down day on Thursday, when the complex closed down by an average of 0.8%.

Three-month base metals prices on the London Metal Exchange were stronger across the board by an average of 0.6% this morning, Wednesday January 9.

Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Tuesday October 23, with losses averaging 0.4% – the exception being tin where prices were up by 0.1%.

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.