October 2023

Disappointing China PMI data weighs on LME base metal prices

Disappointing Chinese purchasing managers' index (PMI) data weighed on base metal prices on the London Metal Exchange at the 5pm close on Tuesday October 31.

LME copper prices rise on stock outflows; all other base metals prices lower

Base metals prices on the London Metal Exchange were largely lower across the board during morning trading on Tuesday October 31, with the exception of copper, which continued Monday’s gains.

Disappointing PMI data ends SHFE base metal price rally

Base metal prices on the Shanghai Futures Exchange (SHFE) fell across the board during morning trading on Tuesday October 31 following the release of contracting Chinese manufacturing data on the same day, reversing the gains made the day prior.

State support for aluminium, steel increases GHG emissions: OECD report

Experts and US industry participants welcomed the Organization for Economic Cooperation and Development's (OECD) report that found governmental support for aluminium smelting and steelmaking industries — especially in China and India — increased greenhouse gas (GHG) emissions.

LME base metals mostly up; aluminium rises by 2%

Base metals on the London Metal Exchange were mostly higher at the 5pm close on Monday October 30.

Rio Tinto to supply low-carbon aluminium to Prysmian for use in power grids

Rio Tinto will supply cables manufacturer Prysmian Group with low-carbon aluminium to build a more sustainable North American supply chain for materials needed to expand power grids for the energy transition, the mining company said on Monday October 30.

LME base metal prices mostly higher at start of trading week

Base metals prices were mostly higher at the open of trade on the London Metal Exchange on Monday October 30, with macroeconomic tailwinds from China providing price support for most base metal contracts.

Global South will play major role in absorbing EU’s non-ferrous scrap surpluses: VDM

Countries like India, Pakistan, Malaysia and Thailand are critical "valves" that absorb surpluses or specific metal scrap grades from the European Union (EU) and must therefore continue to be included in future trading structures, the Association of German Metal Traders and Recyclers (VDM) said in a report released on October 18.

SHFE base metal prices mostly up on encouraging macro news

Positive macroeconomic data out of China underpinned base metal prices on the Shanghai Futures Exchange (SHFE), leading to broad upward momentum during morning trading on Monday October 30, with lead the sole exception.

LME base metals up day on day; nickel and tin down slightly week on week

Base metals prices on the London Metal Exchange increased day on day at the 5pm close of trading on Friday October 27. In the week-on-week comparison, prices were also up, except for nickel and tin.