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
Roughly 40,000 tonnes per month of copper cathode that once flowed smoothly into the United Arab Emirates (UAE) through Jebel Ali had few options to reroute after the Strait of Hormuz officially closed on Monday March 2, with the only alternative entry points — Khor Fakkan and Fujairah — already straining under the weight of diverted cargo, market sources told Fastmarkets.
Navigating market volatility with data-driven strategies for resilient mining operations
The publication of several of Fastmarkets' copper concentrates indices was delayed on Friday February 27 because of a technical error. Fastmarkets' pricing database has been updated.
Discover how fear, deglobalization and AI are transforming the copper market. Insights from the Fast Forward podcast's interview with David Lilley of Drakewood Capital.
Fastmarkets has corrected its MB-BX-0016 Bauxite, cif China, price assessment, which was published incorrectly on Friday February 20.
Fastmarkets invited feedback from the industry on the pricing methodology for its non-ferrous materials and industrial minerals prices, via an open consultation process between January 6 and February 6. This consultation was done as part of our published annual methodology review process.