ASIAN MORNING BRIEF 06/22: Zinc prices slide by more than 2%; LME delists WWS; Rusal restarts Guinea alumina refinery

The latest news and price moves to start the Asian day on Friday June 22.

Zinc prices on the London Metal Exchange fell by more than 2% by the close of trading on Thursday June 21, while sister metal lead struggled to find support amid an intensified trade war between China and the United States. Read more in our live futures report.

Here are how prices looked at the close of trading:

The LME has decided to delist Worldwide Warehouse Solutions (WWS) after a careful monitoring of the company’s financial situation, Metal Bulletin reported on Thursday.

UC Rusal has restarted its Friguia alumina refinery in Guinea after production was halted there six years ago.

South African miner Tharisa is predicting that Zimbabwe will become a significant player in the high-grade chrome ore market.

Australian-Chinese miner MMG said that it will sell its Sepon copper mining asset in Laos to a Chinese gold miner for $275 million.

The US has agreed to exemptions from Section 232 tariffs for some steel products from five countries, Commerce Secretary Wilbur Ross said.

Japan has requested dispute consultations at the World Trade Organization (WTO) regarding South Korean anti-dumping duties levied on stainless steel bars from the country, according to the WTO.

US rebar import prices are up on limited metal supply, with European exporters reluctant to compete with cheaper and limited Turkish rebar.

What to read next
The US is launching its first Strategic Minerals Reserve at Hawthorne Army Depot in Nevada, designed as a platform for storage, refining and recycling to strengthen supply chain security.
Fastmarkets has corrected the rationale for its MB-AL-0346 Aluminium P1020A premium, in-whs dup Rotterdam, $/tonne that was published incorrectly on Tuesday August 19.
The US is confronting a copper supply shortfall, but one company believes that it already holds the key to unlocking hundreds of thousands of tonnes of refined copper – right here, right now.
When the US opted not to impose Section 232 tariffs on copper cathode imports last month, the market breathed a sigh of relief.
The publication of the affected price was delayed for 29 minutes. The following assessment was published late: MB-ZN-0110 Zinc spot concentrate TC, cif China, $/per tonne This price is a part of the Fastmarkets Base Metals Physical Prices package. For more information or to provide feedback on the delayed publication of this price or if you […]
The publication of Fastmarkets’ price assessments of the base metals arbitrage for copper, aluminium, zinc and nickel for Friday August 1 were delayed due to reporter error. Fastmarkets’ pricing database has been updated.