• United States inflation was at 7% in December
• Brainard to say Federal Reserve will focus on tackling “too high” inflation to US Senate banking committee.
Three-month prices on the LME were mixed on Thursday morning, with aluminium ($2,956 per tonne) and lead ($2,339.50 per tonne) up by 0.4% and 0.1% respectively, while the rest were down by an average of 0.5%. Copper shed 0.5% to 9,939.50 per tonne.
The most-traded February base metals contracts on the SHFE were mainly higher as they followed the LME’s strong performance on Wednesday, the exception being aluminium, which was down by 1.1%. The other contracts were up by an average of 0.8%. Copper gained 1.4% to 71,500 yuan ($11,236) per tonne.