ASIAN MORNING BRIEF 02/10: LME base metals prices mixed; Q4 MJP aluminium premium established; Three Castleton Commodities traders to join Mercuria

The latest news and price moves to start the Asian day on Tuesday October 2.

Base metals prices on the London Metal Exchange were mixed at the close of trading on Monday October 1 after some forecast-missing economic data from China. Read more in our live futures report.

Here are how prices looked at the close of trading:

Premiums for the supply of aluminium to main Japanese ports (MJP) in the fourth quarter of 2018 have settled at $103 per tonne over the LME cash price, sources directly involved in the negotiations disclosed to Fastmarkets MB.

Three base metals traders at Castleton Commodities International (CCI) will leave to join Mercuria and build up the company’s global aluminium, copper and zinc books, Fastmarkets learned on October 1.

Chinese lithium producer Ganfeng Lithium announced on September 28 that it reached a strategic cooperation agreement with BMW to supply the German automaker with lithium compounds.

Fastmarkets MB will not publish price assessments for steel products in China from October 1-5, 2018, due to the week-long National Day holidays.

Turkey exported 356,568 tonnes of flat steel products in August, the latest figures from the Turkish Statistical Institute show.

Radoslaw Zalozinski has left his position as an executive director at Polish copper producer KGHM after 19 years with the group, Fastmarkets learned on October 1.

The European Commission has begun an anti-dumping investigation into imported steel welded tubes, pipes and hollow profiles of square or rectangular cross-section originating from Macedonia, Russia and Turkey.

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.