During the Asian trading on Friday morning, most base metal prices on the Shanghai Futures Exchange were up, buoyed by the modest pick-up in risk-on sentiment following China’s release of positive economic data for October.
On London Metal Exchange trading on Friday morning, the base metals were mostly lower, failing to match upward momentum across Asian sessions. Analysts describe the market as a "strange world", pointing out to inconsistencies in supply and demand.
Copper stocks in bonded warehouses in Shanghai fell slightly in October because major importers had used their annual quotas. Zinc and nickel inventories also decreased...