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
Asian spot copper premiums rose in the week ended Tuesday July 23, with premiums imported into China increasing on improved arbitrage terms. In the US market, supply failed to keep up with strong demand while in Europe participants were mostly off for the summer holidays
In the fourth episode of Fastmarkets critical minerals podcast Fast Forward, Freeport-McMoRan CEO and president Kathleen Quirk tells host Andrea Hotter why there's a preference to build and not build new supplies of copper right now
Demand for primary aluminium from the green transition remains a “brighter spot” for consumption amid an otherwise challenging downstream demand outlook, Eivind Kallevik, Norsk Hydro’s chief executive officer and president, told Fastmarkets in an exclusive interview on Tuesday July 23
Acquisition Company Limited (ACG) has agreed to buy the Gediktepe mine in Turkey — the company’s first deal as it works to build a sizeable mid-tier copper producer, its chairman and chief executive officer told Fastmarkets.
Copper market price speculation is driving the base metals narrative, head of research at UK-based services provider Sucden Financial Daria Efanova said during the company’s third-quarter metals webinar on Wednesday July 17.
Chinese mining giant CMOC reported a 178% year-on-year increase in cobalt metal production for the first six months of 2024, according to an announcement by the company on Friday July 12