October 2021

MORNING VIEW: Metals prices have made a strong statement during LME Week

LME base metals prices were little changed early on Friday October 15, but the strong gains seen during this LME Week support our long-held view that we are in a supercycle, with other factors, such as power cuts in China, high energy costs and logistics issues, also having an impact.

South32 to buy Sumitomo stake in Sierra Gorda copper mine

Diversified miner South32 is to buy a 45% interest in the Sierra Gorda copper mine in Chile from Sumitomo Metal Mining, the Australian company said on Thursday October 14.

Nexa Resources gains operational license for Aripuanã Zn-Pb-Cu project

Brazil-based multi-metal producer Nexa Resources has received an operating license for its Aripuanã zinc-lead-copper project in Brazil, with commercial output scheduled to start next year, the company said on Wednesday October 13.

LME WEEK 2021: LME announces first sustainability disclosures on LMEpassport

The London Metal Exchange has registered the first sustainability disclosures on its new digital credentials register, LMEpassport, it announced on Tuesday October 12.

MORNING VIEW: Metals start week generally higher, oil strong too

Base metals prices on both the Shanghai Futures Exchange and London Metal Exchange were, for the most part, up across the board on the morning of Monday October 11, along with Asia-Pacific equities.

MORNING VIEW: Metals buoyant as China returns from holiday in upbeat mood

Base metals prices on the Shanghai Futures Exchange were up across the board on the morning of Friday October 8, while those on the London Metal Exchange were for the most part stronger, as were Asia-Pacific equities.

MORNING VIEW: Base metals prices firmer; dip-buying evident against slightly brighter background

Base metals prices on the London Metal Exchange were up across the board on the morning of Thursday October 7, which was in line with the stronger tone in Asia-Pacific equities and the pullback in oil prices.

MORNING VIEW: Metals still seem buoyant despite bouts of weakness, but headwinds persist

Base metals prices on the London Metal Exchange were mainly down on the morning of Wednesday October 6, which was in line with the weakness in Asia-Pacific equities.

MORNING VIEW: Base metals prices consolidating after Monday’s rebounds

Base metals prices on the London Metal Exchange were mainly weaker on the morning of Tuesday October 5, while markets consolidated recent gains. But volumes have been light with Chinese participants absent due to the weeklong National Day holiday (October 1-7).

MORNING VIEW: Metals experience follow-through weakness Friday, after decline accelerated Thursday

Base metals prices were down on the morning of Friday October 1, extending the weakness that started to accelerate on Thursday, when the LME base metals closed down by an average of 2.3%, with tin dropping by 6.2%. The weakness was broad based with equities retreating, too.