MORNING VIEW: Base metals mixed, but many looking more bullish again

Base metals prices were mixed on both the LME and the SHFE this morning, Monday September 13. But while the mood in broader markets remains somewhat negative, the base metals seem to be entering the post-summer period in a more bullish mood.

There is a barrage of key Chinese economic data out this week, which the market is likely to watch closely for signs that the Chinese economy is slowing Base metals Three-month base metals prices on the London Metal Exchange were mainly weaker on Monday. Nickel led the decline with a 1.3% drop to $20,125 per tonne, followed by a 0.8% fall in zinc to $3,082.50 per tonne, while aluminium bucked the trend with a 1.3% rise to $2,965 per tonne. Copper was down by 0.1% at $9,682 per tonne. Despite the overall weaker performance this morning, on the charts most of the metals started to look stronger last week, suggesting they...


William Adams

September 13, 2021

09:37 GMT