Base metals prices were pausing and precious metals were mainly on a back footing this morning, Friday January 8, with sentiment generally bullish on the prospects for greater fiscal spending out of the United States when Joe Biden becomes the president in a few weeks’ time.

More provincial governments in China are offering incentives to companies to purchase base metal products, in a highly unusual move to avoid inventory piling up at a time of demand uncertainty, Fastmarkets understands from official documents and industry sources.

Base metals prices on the Shanghai Futures Exchange were up across the board this morning, Thursday December 24, while those on the London Metal Exchange were mixed.

United States-based electric vehicle maker Tesla’s failure to be listed as an S&P 500 company led to a 20% share price fall on Tuesday September 8, that in turn led to a 4% fall in the Nasdaq index – markets are wondering whether this will be a catalyst for a broader reality check? Or just provide another dip-buying opportunity?

Canada-based Lundin Mining Corp is to suspend operations at its Candelaria copper mine in Chile after mediation talks with a second union at the site failed to result in an agreement .

ED&F Man’s Ed Meir clinched the top spot on the base metals predictions leaderboard for the second quarter of 2020 with 98.87% accuracy while ING’s Wenyu Yao took the top spot for precious metals predictions over the period with a 98.75% accuracy rating.

Markets were mixed this morning, Wednesday September 2, with base metals prices on the London Metal Exchange little changed, the dollar was firmer and Asian-Pacific equities, as well as pre-market major western equity index futures, were stronger too.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Friday February 19, on the back of expectations for stronger demand from a widespread recovery and due to the underlying momentum.

After strong gains on the London Metal Exchange on Tuesday January 12, when prices closed up with gains averaging 1.8%, prices were for the most part little changed this morning, with nickel the main mover.

The dip in base metals prices at the end of last week was a one-day wonder for copper and aluminium after prices for both metals rebounded yesterday, while consolidation has set in again this morning, Tuesday August 11, and the other metals continue to consolidate too.