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Nonferrous metals on the SHFE were mostly higher Thursday morning, and their counterparts on the LME rose across the board, after Wall Street stocks surged to record highs following the swearing-in of U.S. President Joe Biden.

SMM reported this in detail in its morning commentary on Jan. 21, 2021

Briefly noted: What moves the steel world today?
Base metals in Shanghai were mostly higher after Wall Street rose to record levels following Biden’s inauguration

Shanghai base metals rise

Shanghai base metals gained for the most part in overnight trading. Copper added 0.07%, aluminum rose 0.51%, lead rose 0.93%, zinc rose 0.86% and tin gained 1.13%, while nickel fell 0.23%.

LME complex rose across the board on Wednesday

The LME complex rose across the board on Wednesday. Tin was the best performer, rising 2.96%. Lead rose 1.42%, nickel gained 0.06%, aluminum climbed 0.79%, zinc rose 1.41% and copper rose 0.59%.

SMM goes into great detail about each of the base metals in the article. It is worth reading.

Source: metal.com


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