Base metals traded on the London Metal Exchange are ticking higher this morning, Wednesday February 4, posting an average gain of 0.6%. Nickel (+1.4%) is the strongest, while zinc (+0.2%) and lead (+0.1%) are the laggards of the complex.

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The London Metal Exchange would be open to providing ‘reciprocal’ support to the Shanghai Futures Exchange as the Chinese bourse looks to expand its metals storage network internationally, LME ceo Garry Jones said.

United States politicians agreed a $2-trillion stimulus package to support the US economy during the ongoing novel coronavirus (nCoV 2019) pandemic, and markets, especially equity markets, have reacted well.

Deliverable nickel stocks at the Shanghai Futures Exchange-approved warehouses remained in an upward trajectory over the past week due to tax policy changes implemented at the start of the year.

ThyssenKrupp Metallurgical Products NY (TK MetPro NY) is adding a ferro-alloys and minerals trading desk as part of its US expansion.

Tensions between the United States and China have risen again after the US House of Representatives passed an act to support Hong Kong protestors - this is unlikely to help trade negotiations and therefore is another headwind for the markets.

Vedanta chairman Anil Agarwal has joined the mining philanthropists hall of fame.

Most of the base metals prices on the London Metal Exchange were little changed on the morning of Wednesday May 16, the exceptions were zinc (+0.6%) and tin (-0.5%). Copper was up by 0.1% at $6,818 per tonne.