With the exception of tin that was little changed, base metals prices on the Shanghai Futures Exchange were down at the close of morning trading on Thursday February 20, with the complex coming under pressure from a strengthening dollar index.

Base metals prices have reacted quite aggressively to the spread of the coronavirus, more so than most equity markets, leaving markets sending out different signals. While it is too early to say how this will unfold, here are some early concerns and observations.

Base metals prices have reacted quite aggressively to the spread of the coronavirus, more so than most equity markets, leaving markets sending out different signals. While it is too early to say how this will unfold, here are some early concerns and observations.

Metals and wider markets are mixed this morning, Wednesday April 15, while traders brace for more economic and corporate data that will start to show the economic hit that the global economy has suffered.

There is some cautious optimism over United States-China trade negotiations after US President Donald Trump described the talks as “very, very good” and said he would meet Chinese Vice Premier Liu He in the White House on Friday October 11.

China’s official manufacturing purchasing managers’ index (PMI) rebounded to 52 in March, after 35.7 in February, which means 52% of purchasing managers reported conditions were “better” in March than they were a month earlier.

Base metals prices on the Shanghai Futures Exchange were mostly little changed with a slight downward bias during morning trading on Tuesday July 16, with renewed dollar strength offsetting the positivity stemming from China’s better-than-expected economic data released on Monday.

Three-month base metals prices on the London Metal Exchange were mostly down during morning trading on Friday August 21 after the release of key purchasing managers’ index (PMI) data out of Europe disappointed, while copper futures took the brunt of the decline over the morning in a 1.2% drop.

Markets were generally buoyant on the back of relief that a potential Covid-19 vaccine has been found, but the metals also seem hesitant this morning, Tuesday October 11, about what this will mean to the markets given how much they have run up already since the March lows.

With the exception of nickel and lead, base metals prices on the Shanghai Futures Exchange were up during the morning trading session on Thursday September 5, with the complex buoyed by improved risk sentiment following an easing of geopolitical tensions and softer dollar.