Report: Shanshan Energy to invest in lithium-battery project in Ningxia

Shanghai base metals traded mixed on Friday morning as traders monitored the European Central Bank's latest meeting and the beginning of Joe Biden's presidency. Meanwhile, their counterparts on the LME also set for a mixed start.

Nonferrous metals on the SHFE were mostly higher on Friday morning, and their counterparts on the LME also rose for the most part.

SHFE nonferrous metals were mostly higher on Monday November 16 on the signing of the Regional Comprehensive Economic Partnership (RECP) over the weekend and upbeat Chinese economic data released today.

Shanghai base metals traded mixed on Thursday morning following an overnight bounce for tech stocks on Wall Street as a recent rotation into cyclicals paused. Meanwhile, their counterparts on the LME also set for a mixed start.

Shanghai base metals fell for the most part on Wednesday November 11. Copper slid 0.35%, zinc weakened 0.91%, nickel edged down 0.07% and tin fell 0.68%, while aluminium rose 1.57% and lead climbed 0.34%.

Shanghai base metals traded mixed on Wednesday morning, as investor sentiment continued to be buoyed by a recent positive development on the coronavirus vaccine front. Meanwhile, their counterparts on the LME were mostly higher.

Prices of cobalt are expected to further retreat this week as the arrival of cheap cobalt raw materials impacts the domestic spot market and grow cobalt salt producers inclination to destock. 

Offers of spot copper cathode fell to discounts on the morning of Monday June 8 as a continued rally in copper futures sidelined downstream consumers while sellers remained keen to destock. Amid sluggish trades and ample supplies in the market, sellers cut offers to a discount of 20-10 yuan/mt for standard-grade copper, against the SHFE June contract. Offers of high-grade copper fell to a discount of 10 yuan/mt. These compared with premiums as high as 20 yuan/mt in early trades this morning. 

Prices of Chinese cobalt products may slow their downside trend in the short term as uncertainties around raw materials imports remain even as top supplier South Africa has eased coronavirus lockdown measures to level 4 which allowed freight transport to resume. 

Premiums of spot copper cathode edged higher in Shanghai on the morning of Wednesday May 6, from the level before the Labour Day holiday, as some top traders replenished inventories after the holiday.