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Macro

LME base metals close mixed; copper up $149 at $14,232/t, cobalt down $555

London Metal Exchange copper closed $149 higher at $14,232 per tonne, with aluminium up $18 at $3,269/t, zinc down $12 at $3,812/t, lead up $12 at $1,886/t, nickel up $190 at $16,167/t and tin up $458 at $52,424/t. Cobalt was the sharpest mover, falling $555 to $40,120/t.

Original source

AI take

The split between a broadly firmer base-metals complex and cobalt's sharp drop is the notable part: copper, nickel and tin all gained while cobalt alone broke lower by a wide margin. That divergence points to cobalt-specific pressure rather than a macro risk-off move across the LME. For anyone tracking battery-metals supply chains, cobalt's disconnect from the rest of the board is the thread worth following — whether it stays isolated or starts dragging other metals is the open question.

Generated by AI for reference only.

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