The London Metal Exchange is seeking to launch a new cash-settled main Japanese ports (MJP) aluminium premium contract settled against a Fastmarkets price, the exchange said on November 13.

Low demand for long steel products such as rebar was at the root of the problems facing the steel industry, according to the International Rebar Producers & Exporters Association (Irepas).

Shanghai copper cathode premiums continued to soften in the week ended Tuesday November 12 as a result of low buying interest and a poor import arbitrage, while rates in Europe and the United States were unchanged week on week.

Prices for seaborne low-grade and high-grade manganese ore were on divergent paths in the week ended Friday November 8, with the former continuing to trend downward on persistently weak market sentiment while the latter experienced a slight rebound following a number of large-volume deals.

A cutback in chrome ore production is needed to rebalance the surplus affecting the ferro-chrome supply chain, delegates claimed at this week’s ICDA Chromium 2019 conference in New Delhi, India.