ASIAN MORNING BRIEF 07/08: Mixed showing for LME base metals; EVs upending auto industry, analytics firm says; Russian steel producers raise sheet prices

The latest news and price moves to start the Asian day on Tuesday August 7.

Base metals on the London Metal Exchange consolidated for much of trading on Monday August 6, with closing prices mixed despite broad strength in the US dollar and an ongoing trade spat between the United States and China. Read more here in our live futures report.

Here is how prices looked at the close of trading:


Electric vehicles are exerting a significantly disruptive effect on the automotive industry and will transform the sector over the next five years, according to analytics firm GlobalData.

Steel producers in Russia’s central region around Moscow have increased their prices for hot-rolled and cold-rolled steel sheet on improved demand.

Turkey’s finished steel output increased 9% year on year in January-June 2018, while consumption increased 11.5%, according to the latest data published by the Turkish Steel Producers Association (TÇÜD).

Swedish state-owned iron ore producer LKAB expects to restart iron ore pellet production at its Svappavaara plant in northern Sweden on August 8, a spokesman told Metal Bulletin.

Russia’s Novolipetsk Steel (NLMK) is testing potential new supplies of steel slab to its assets in the United States, after a 25% import tariff was imposed on deliveries of its own semi-finished product from Russia.

What to read next
Luxembourg-based recycler Befesa’s facility in Mooresboro, North Carolina, is the first in the world to manufacture special high-grade (SHG) zinc solely from recycled zinc
Lower aluminium premiums in Europe risk deterring imports amid falling freight rates, with some market participants now looking at the availability of material for 2023 in light of the various smelter cuts on the continent
Anglo American and Germany-based Aurubis have signed a memorandum of understanding (MoU) to jointly develop a solution that will ensure copper, a key commodity in energy transition, is traceable and sustainably produced, the London-based miner announced on Thursday, November 24
Recent disruptions to Peruvian mines have raised concerns about social tensions reducing the attractiveness of the industry to investors, but market participants told Fastmarkets that they still rate Peru highly as a copper mining hub
Codelco, the world’s biggest copper producer, will halve its refined copper sales to China in 2023, citing major production challenges at its Chuquicamata complex and closure of the Ventanas smelter, both in Chile
Baoshan Iron & Steel (Baosteel) will begin to supply steel made with sharply reduced carbon emissions to Beijing Benz Automotive (BBAC) from next year, the Chinese steel giant said on Tuesday November 22
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed