Base metals prices mixed but overall still heading sideways

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Thursday December 9. This comes after a strong performance on the LME on Wednesday, when prices closed up by an average of 1.7%.

Having seen some dip-buying in recent days, the metals are now not looking as vulnerable as they had been earlier in the week. China consumer price index (CPI) shot up to 2.3% in November, up from 1.5% in October and 0.7% in September. Base metals Three-month prices on the LME were mixed this morning. Nickel led on the downside with a 1.3% fall to $19,950 per tonne, with lead ($2,284.50 per tonne), aluminium ($2,620.50 per tonne) and copper $9,616 per tonne) also weaker by an average of 0.4%, while zinc ($3,319.50 per tonne) was little changed and tin was untraded,...

Published

William Adams

December 09, 2021

08:51 GMT

London