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China’s output and sales of new energy vehicles (NEVs) continued to increase month on month in May but figures are still down on an annual comparison, reflecting the sharply reduced subsidies.
Taiwanese buyers of imported containerized ferrous scrap continued to pay higher prices for cargoes in the week to Friday June 12 amid climbing prices in global markets.
Recent closures and restrictions at several furnaces that produce high-grade steel products across South Korea have worsened demand for imports of Japanese busheling scrap, market sources told Fastmarkets on Friday June 12.
There has been some follow-through selling in Asian-Pacific equity markets and base metals on the Shanghai Futures Exchange this morning, Friday June 12, but base metals on the London Metal Exchange and pre-market major western equity index futures are consolidating after Thursday’s routs.
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