ASIAN MORNING BRIEF 06/22: Zinc prices slide by more than 2%; LME delists WWS; Rusal restarts Guinea alumina refinery

The latest news and price moves to start the Asian day on Friday June 22.

Zinc prices on the London Metal Exchange fell by more than 2% by the close of trading on Thursday June 21, while sister metal lead struggled to find support amid an intensified trade war between China and the United States. Read more in our live futures report.

Here are how prices looked at the close of trading:

The LME has decided to delist Worldwide Warehouse Solutions (WWS) after a careful monitoring of the company’s financial situation, Metal Bulletin reported on Thursday.

UC Rusal has restarted its Friguia alumina refinery in Guinea after production was halted there six years ago.

South African miner Tharisa is predicting that Zimbabwe will become a significant player in the high-grade chrome ore market.

Australian-Chinese miner MMG said that it will sell its Sepon copper mining asset in Laos to a Chinese gold miner for $275 million.

The US has agreed to exemptions from Section 232 tariffs for some steel products from five countries, Commerce Secretary Wilbur Ross said.

Japan has requested dispute consultations at the World Trade Organization (WTO) regarding South Korean anti-dumping duties levied on stainless steel bars from the country, according to the WTO.

US rebar import prices are up on limited metal supply, with European exporters reluctant to compete with cheaper and limited Turkish rebar.

What to read next
Aluminium’s most important players met at Fastmarkets’ International Aluminium Conference in Athens on September 10-12 to debate the issues shaping the future of the industry. We highlight some of the standout quotes.
Trade, tariffs and protectionist measures were all topics of discussion during the US presidential debate between Vice President Kamala Harris and former President Donald Trump on Tuesday September 10.
Total open-tonnage stocks in London Metal Exchange-registered warehouses rose by 6.0% to 1,137,907 tonnes at the end of August, from 1,073,574 at the end of July, according to the latest data released by the exchange on Tuesday, September 10.
The outlook for nickel in North America remained bullish, with battery capacity installed in electric passenger vehicles expected to grow sixfold between 2020 and 2035, Fastmarkets’ International Critical Minerals and Metals Summit heard on Friday September 6.
Nickel briquette premiums in the European market trended downward in the week to Tuesday September 11, while premiums elsewhere in the global market remained flat.
Although some sectors are still reluctant to pay more for green aluminium, it’s important to have differential premiums for low-carbon products because they can increase awareness about the green agenda, chief executive officer of Brazil's Companhia Brasileira de Alumínio (CBA) told Fastmarkets during an interview.