ASIAN MORNING BRIEF 01/12: Base metals lack direction on LME; Zim Alloys said preparing to meet with creditors to discuss potential new buyer; Recylex brings in new chief to replace Roche

The latest news and price moves to start the Asian day on Friday December 1.

Base metals again lacked a uniform direction after a weak start on the London Metal Exchange on Thursday November 30. Read more in our live futures report.

Here are how prices looked at the end of the day on Thursday.

Zimbabwe Alloys – otherwise known as Zim Alloys – is preparing to meet with creditors next week in order to discuss a potential new buyer for the company, sources told Metal Bulletin.

European lead and zinc recycler-smelter Recylex has named a new chief executive officer. He replaces incumbent Yyves Roche, who is leaving the company after helming it for 12 years.

A group of unionized workers have rejected a contract offer by Canada’s Teck for its copper mine in Chile, which allows the workers to strike if no deal is reached after government-mediated talks.

Spot alumina prices have fallen this week in the Pacific, struggling to resist the price weakness in the aluminium market.

The United States has quadrupled the preliminary anti-dumping duty on imports of wire rod from South Korea, according to a US Federal Register notice.

Meanwhile, large-diameter line pipe mills in the US are said to be almost ready to file an anti-dumping and countervailing duty trade petition with the US Department of Commerce, American Metal Market has been told.

Italian steelmaker Ilva faces the threat of closure if an Italian court accepts a complaint lodged by two senior politicians within the country, according to Italy’s minister of economic development.

Brazilian steel institute Aço Brasil has revised its forecast for the country’s steel consumption, based largely on the association’s belief that a “timid” market rebound is expected in December.

What to read next
BHP reported lower FY27 copper guidance, sanctioned two Spence processing projects, disclosed a disruption at Carrapateena and highlighted progress on an Olympic Dam smelter expansion in its July 16 results package.
New York-headquartered global commodities company Hartree Partners will take the first 330,000 tonnes of copper concentrate from Blue Moon Metals' Nussir project in Norway, Christian Kargl-Simard, the critical metals developer's chief executive officer, told Fastmarkets on Monday July 6.
Half a million tonnes of copper is sitting in US warehouses, and the traders who put it there are starting to wonder whether they’ve built a hedge, or a trap.
European automotive procurement faces growing complexity due to regional cost volatility and policy-driven supply chains reshaping material pricing and sourcing strategies. This demands granular, region-specific market intelligence for precise cost modeling and strategic decision-making.
The assessment, which currently follows the UK holiday calendar, will follow the Singapore holiday calendar after the proposed change. There will be no change to the publication timing, and the assessment will continue to be published weekly on Wednesdays, at 7pm Singapore time. The purpose of the adjustment is to align the timing to the […]
JX Advanced Metals, Mitsui Kinzoku, Marubeni and Mitsubishi Materials(MMC) inked a deal to integrate MMC's copper concentrate procurement and related products sales business into Pan Pacific Copper (PPC), marking a significant consolidation of Japan's copper concentrate purchasing sector amid persistent pressure from weak treatment and refining charges (TC/RCs).