Base metals prices on the Shanghai Futures Exchange were little changed to weaker during Asian morning trading on Thursday January 17, with the complex coming under pressure from a firmer dollar and renewed US-China concerns.

The base metals prices on the London Metal Exchange are, for the most part, little changed this morning, Wednesday May 17, the exception is nickel where three-month prices are down 0.9% at $9,085 per tonne.

Markets are in semi-limbo while they wait for developments on US-China trade and Chinese stimulus; the release of Chinese purchasing managers’ index (PMI) data on Friday May 31, if poor, may well prompt more stimulus.

Markets are mixed and on average weaker this morning, Friday April 3, after the rally on Thursday following a 20% rise in oil prices faded.

The metals research team at Deutsche Bank took second place on the overall Apex leaderboard for price forecasts in base metals during 2011, with 94.1% accuracy across all six base metals traded on the London Metal Exchange.

The price trend for all LME-traded base metals so far this year has been higher, apart from in copper.

Three-month base metals prices on the London Metal Exchange were being pushed and pulled by cross currents this morning, Thursday November 29. Nickel, lead and tin showed gains averaging 0.4%, while copper, aluminium and zinc were down by an average of 0.4%. Copper was off by 0.4% at $6,230 per tonne.

Base metals prices on the Shanghai Futures Exchange were predominantly higher during Asian morning trading on Wednesday January 16, with the complex continuing to find support from Chinese authorities’ pledge to slash taxes as part of a new stimulus drive.

Three-month base metals prices on the London Metal Exchange were down across the board by an average of 1% on the morning of Thursday July 19. Losses were ranged between a 0.1% drop for aluminium and a 2% fall for zinc. The three-month copper price was down by 0.8% at $6,129 per tonne.

Misplaced optimism seems to be driving gains in the London Metal Exchange’s three-month nickel price, especially amidst weak global economic growth and ongoing trade tensions between the United States and China; granted there is growing concern over nickel supply from Indonesia but this remains a long-term play.