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Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil rose during the week to November 19 due to improved buying interest amid gains in upstream hot-rolled coil prices, market participants told Fastmarkets.
Aluminium premiums in Europe and the United States declined further in the week ended November 19, with the market under increasing pressure from weak demand and the backwardation in London Metal Exchange spreads.
Over 90% of copper scrap products currently allowed into China could be eligible for renaming as recyclable copper raw materials next year, a senior representative of China Nonferrous Metals Industry Association’s (CMRA) recycling metal branch told delegates at Asia Copper Week in Shanghai.
The nickel briquette premium in the United States rose for the second consecutive week amid enlivened spot activity in the week to November 19, while premiums for all other grades in China and Europe remained unchanged on slack demand.
Recent falls in the manganese ore market will relieve the squeezed margins of European manganese alloys producers but may not prevent further output cuts, according to Kevin Fowkes, managing consultant at AlloyConsult.