ASIAN MORNING BRIEF 05/09: Nickel leads LME base metals downward; US beer industry reps call for end to 232 tariffs; Elevated alumina prices put pressure on aluminium producers

The latest news and price moves to start the Asian day on Wednesday September 5.

Nickel prices on the London Metal Exchange fell to their lowest point since January at the close of trading on Tuesday September 4, with prices down by 2.5% amid sharp drops in copper, zinc and lead while strength in the United States dollar continued to put pressure on base metals. Read more in our live futures report.

Here are how prices looked at the close of trading:

Comex copper prices fell to a multiweek low during morning trading in the US due to a stronger dollar and persistent fears that tariffs will spread globally.

The organization representing the US beer industry has called for the end of Section 232 tariffs on imports of aluminium from all countries and quotas on imports from Canada.

With alumina prices at extremely high levels and supply tightness showing no signs of easing, market participants are starting to question when downstream aluminium prices and premiums will begin to react.

Lithium producers’ share prices have been under pressure all year and some investors are no doubt wondering whether that marks the end of the lithium boom.

Turkish steel producers have continued to book scrap from the deep-sea market for September deliveries, with prices slightly firmer.

ArcelorMittal’s Veriña long products mill in the Asturias region in northwest Spain will supply India’s Delhi Metro Rail Corp with 6,350 tonnes rail steel.

First Cobalt has acquired the Iron Creek property in Idaho, in the US, and eliminated its outstanding royalty, the company said.

What to read next
The attack by the Russian army on a hydroelectric power plant in Nova Kakhovka in southern Ukraine on Tuesday June 6 has affected steelmaking operations at Kryvyi Rih, where ArcelorMittal’s Ukrainian steel mill and Metinvest’s mining and processing plants (GOKs) are located, sources have told Fastmarkets
Fastmarkets will launches its price assessment for ferro-chrome low carbon, 0.10% C, basis 60-64.9% Cr, CIF Europe, on Tuesday June 6.
Find out how Mitsui and Kobe Steel seek to reinforce their position in direct-reduced iron (DRI) production in the Middle East with the construction of a low-CO2 iron metallics production plant.
Fastmarkets proposes to launch published netback rates for both purity and incoterm differentials for its aluminium P1020A Rotterdam premiums.
Fastmarkets proposes to amend the publishing frequency of its three calcined alumina prices from monthly to quarterly.
Fastmarkets invited feedback from the industry on the pricing methodology for cobalt hydroxide, min 30% Co, inferred, China, $lb, via an open consultation process between May 4 and June 1, 2023. This consultation was done as part of our published annual methodology review process.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.