Base metals prices consolidate after strong Wednesday performance

Base metals prices on the Shanghai Futures Exchange and the London Metal Exchange were mixed on the morning of Thursday January 13, but this was after generally strong performances a day earlier when copper breached the $10,000-per-tonne level for the first time since October.

• 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. Base metals 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. Precious metals Precious...

Published

William Adams

January 13, 2022

07:50 GMT

London