Base metal prices on the Shanghai Futures Exchange (SHFE) were mixed today after the US and China ended trade talks.

US president Donald Trump claimed that the US and China had reached a trade deal after a two-day meeting. China will face a total of 55pc in tariffs from the US, while China's tariffs on the US will stay at 10pc, Trump said. The deal remains subject to the final approval of Trump and Chinese president Xi Jinping.

Sentiment among China's auto parts makers was boosted after major domestic car manufacturers, including BYD, Xiaomi Auto and XPeng Motors, issued statements committing to adhere to a payment period of no more than 60 days.

SHFE July aluminum prices rose by 0.7pc to close at 20,395 yuan/t ($2,835.3/t) today. The July copper contract edged lower by 0.9pc to Yn78,610/t. The July nickel contract fell by 1.5pc to Yn120,000/t. The July zinc contract fell by 0.2pc to Yn22,085/t.

The July tin contract edged lower by 0.1pc to Yn265,150/t. The July lead contract rose by 0.3pc to Yn16,890/t.

The Hang Seng Index was down by 1.5pc to 24,010.7 as of 3:56pm Singapore time. The Shanghai Composite Index closed flat at 3,402.7 on Thursday.