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.

Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Monday January 14, with weakness in US equity markets last Friday denting investors’ risk appetite.

Base metals prices on the Shanghai Futures Exchange were mixed during morning trading on Friday May 17, after positive US data releases overnight could offer only some respite from the continuing US-China trade war.

Base metals prices on the Shanghai Futures Exchange exhibited broad-based strength for a second day in a row during morning trading on Thursday May 16, with nickel once again leading the charge higher – though gains were more tempered in the alloying metal compared with Wednesday.

The flip-flip nature of headlines surrounding trade talks between China and the United States is calling the tune in the markets; there was initial weakness on news that a signing of a partial trade deal would be delayed, but markets then turned higher after it was announced that progress had been made with both sides agreeing to remove some tariffs.

Germanium prices in Europe fell on Wednesday June 14 as a result of surplus material available in China and low demand from end users.

While the metal markets have hardly been bullish, United States President Donald Trump undermined confidence across broad markets when he re-imposed tariffs on steel and aluminium imports from Argentina and Brazil and threatened France with tariffs too.

The three-month lead price on the London Metal Exchange was slightly firmer this morning, Friday November 23, while the rest of the complex was down by an average of 0.6%. Zinc led the decline with a 1.2% fall, while copper was off by 0.8% at $6,217 per tonne.

Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.5% on the morning of Monday July 23. Gains were ranged between 0.1% for aluminium and 1.2% for zinc, with copper up by 0.3% at $6,172 per tonne.

Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Wednesday September 26, with many investors taking to the sidelines ahead of the US Federal Open Market Committee (FOMC) meeting later.