ASIAN MORNING BRIEF 06/09: LME copper up on mild US dollar index retreat; US stainless scrap prices deteriorate; BHP in deal to buy stake in owner of Ecuador copper-gold project
The latest news and price moves to start the Asian day on Thursday September 6.
Copper prices on the London Metal Exchange climbed by 1% by the close of trading on Wednesday September 5, supported by a marginal retreat in the United States’ dollar index amid continued price dips in the LME’s three-month lead and nickel prices. Read more in our live futures report.
Here are how prices looked at the close of trading:
The stainless steel scrap market in the US is seeking a new bottom, with prices continuing to deteriorate.
BHP has entered into an agreement to buy a small stake in an Australian junior mining company that owns and operates a copper-gold project in Ecuador.
Rio Tinto Aluminium chief executive Alf Barrios recounts a career that has included work at Cern, the European Commission and a long period at BP before he took up his present role.
Domestic prices for steel beams in Europe have held steady for a sixth consecutive week, according to sources.
Domestic prices for mesh-quality wire rod produced and delivered in Southern Europe have widened downward over the past week, with mills lowering their offers, according to sources.
Iranian export billet and slab prices were mostly stable during the week ended September 5, with several deals were heard to Southeast Asia and parts of the Middle East.