- Base metals traded at firm levels during the open-outcry sessions, settling back from their highs, but most retained solid gains, building on the upbeat sentiment seen in wider financial markets after weekend economic developments. The mood was lifted by Chinese inflation data and a global banking adequacy deal, with a firm euro and positive warehouse inventory figures today also supportive. "There's been good Chinese data over the weekend," a trader said. "And people went short on Friday because the technicals looked poor, so we're seeing some short-covering too." - In the absence of top-level US data later today, prices look set to capitalise on advances seen so far once 'third Wednesday' pricing has run its course. In other markets, the euro was similarly consolidating around a firm 1.2800 against the dollar, while shares in Europe were strong. The FTSE was some one percent higher, suggesting a steadier start on Wall Street. - Tin was trading at $21,800, down $50, but had been as high as $22,250, a fresh peak since August 2008, with a fundamentally and technically strong market closing in on the May 2008 all-time highs of $25,500. Today, stocks dropped a net 85 tonnes to 13,865 tonnes, the lowest since late May 2009. Nickel hit a four-month high of $23,150 and then held at $23,000, up $500. Oct/Nov held at $15/20 backwardation. - Copper, which had been more than two percent higher at just above $7,650, was trading at $7,625, well above the Friday close of $7,486. Earlier, inventories fell for the seventh day in a row - down a net 950 tonnes at 390,450 tonnes, a fresh low since early November 2009.

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