May 2021

MORNING VIEW: Consolidation over as base metals surge on numerous drivers

Base metals prices on the Shanghai Futures Exchange were up across the board while those on the London Metal Exchange were mixed during the morning of Friday May 28. This followed surging prices on Thursday.

MORNING VIEW: Most LME base metals trying to rebound, but copper struggling

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed during the morning of Thursday May 27, as were broader markets – are these pauses, or early signs of a stall?

MORNING VIEW: Base metals consolidate, but dip buying half-hearted

Base metals prices on the LME and SHFE were mixed - albeit with a slight upward bias - this morning, Wednesday May 26. But the rebounds seem half-hearted, with some erring on the side of caution judging by the lower treasury yields and stronger gold price.

MORNING VIEW: Base metals’ recent corrections once again run into dip-buying

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly positive on the morning of Tuesday May 25, with only SHFE lead showing significant weakness.

MORNING VIEW: Base metals prices in correction mode

Base metals prices on the LME were mainly weaker on the morning of Monday May 24, while those on the SHFE were down across the board in response to attempts by the Chinese authorities to inhibit price increases.

MORNING VIEW: Base metals prices find some dip-buying support after Wednesday’s sell-off

Base metals prices on the London Metal Exchange were mainly stronger this morning, Thursday May 20, on dip buying, while those on the Shanghai Futures Exchange were down across the board in reaction to the 3.5% average loss on the LME on Wednesday.

Chile tax stability agreements expected to be upheld, Teck CEO says

Tax stability agreements made between mining companies and the government of Chile are designed to be non-negotiable and are expected to be respected if proposed changes to the country’s royalty system are made, the chief executive officer of Teck Resources said.

MORNING VIEW: Base metals prices up across the board as recent consolidation was short-lived

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Tuesday May 18, and once again recent dips have been short-lived and not that deep, suggesting sentiment remains robust.

MORNING VIEW: Metals weaker but broader market more upbeat after recent weakness

Base metals prices on both the LME and SHFE were mainly weaker this morning, Friday May 14, and seem to have got some downward momentum, even though broader markets have seen a buy-the-dip mentality emerge.

Nornickel's Oktyabrsky mine back to full production after February flooding

Nornickel resumed ore mining at full capacity at its Oktyabrsky underground mine on Thursday May 13, the company has said, after flooding at the site meant that it was offline for nearly two months.