ASIAN MORNING BRIEF 03/07: Nickel leads decline in most LME base metals; Anil Agarwal to buy remaining Vedanta stake; Russia files lawsuit vs US at WTO
The latest news and price moves to start the Asian day on Tuesday July 3.
Nickel prices on the London Metal Exchange fell by more than 2% by the close of trading on Monday July 2, topping broad losses across the complex while escalating trade tensions and dwindling equity markets weighed on commodities. Read more in our live futures report.
Here are how prices looked at the close of trading:
Anil Agarwal, the founder and majority owner of Vedanta Resources, has agreed to buy the remaining stake of the mining company to pave the way for delisting it from the London Stock Exchange.
Russia has filed a lawsuit against the United States at the World Trade Organization over US Section 232 tariffs on aluminium and steel product imports, the press office of Russian minister of economic development Maxim Oreshkin confirmed to American Metal Market.
Swedish state-owned iron ore producer LKAB has applied for a new environmental permit that would allow it to increase output at its main mine in Kiruna, northern Sweden, the company said on Monday.
New Turkish flat steel producer Yildiz Iron & Steel has started production of hot-dipped galvanized coil at its facility in Kocaeli, the company said on July 2.
Brazilian steelmaker Gerdau has concluded the sale of its long steel operation in Chile to a group of local investors, it announced on June 29.
Pig iron export prices from Brazil remained unchanged last week, with most producers already sold out amid rebounding domestic demand.
Turkey imported 861,166 tonnes of flat steel in May, up by 12.3% year on year from 696,242 tonnes, according to Turkish Statistical Institute TUIK.