View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 11, 2020updated 13 Feb 2020 10:20am

Base metal prices increase as steadier US equities lift sentiment

Industrial metals prices have increased today due to record high US equities market and the recommencement of production at several Chinese facilities.


Visit our Covid-19 microsite for the latest coronavirus news, analysis and updates


Industrial metals prices have increased today due to record high US equities market and the recommencement of production at several Chinese facilities.

Reuters reported that London Metal Exchange (LSE)’s three-month copper increased by 1% to $5,725 a tonne, nickel rose 2.3% to $13,185 a tonne, zinc edged-up 1.3% to $2,162 a tonne and aluminium rose 0.9% to $1,717 a tonne. The rise of base metal prices has boosted market sentiment.

Nasdaq closed at record highs yesterday as workers and factories in China returned to resumed business.

Apple’s iPhone producer Foxconn received a permit to reopen two major plants in China, which were closed due to the coronavirus outbreak.

The death toll from the virus has reached 1,018, including one case in the Philippines, and the number of reported infections has increased to 42,638 globally as of the end of 10 February, representing an increase of 108 new deaths from the day before.

Earlier this month, global ratings agency Moody’s Investor Service stated that the global prices of iron ore and base metals have fallen due to the novel coronavirus (nCoV) outbreak in China.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology