ASIAN MORNING BRIEF 08/12: LME lead prices sink nearly 3%; antimony trioxide facing replacement in flame retardant industry; Chinese tungsten prices jump on strong demand
The latest news and price moves to start the Asian day on Friday December 8.
Lead prices on the London Metal Exchange plunged nearly 3% at the close on Thursday December 7, as concerns about slower growth in China put pressure on metals. Read more in our live futures report.
Here are how prices looked at the end of the day on Thursday.
The flame retardant industry might soon replace antimony trioxide with cheaper alternatives if antimony prices continue to rise, according to the top executive of Belgian producer Campine.
Chinese tungsten prices have jumped based on strong overseas demand ahead of Christmas and the Chinese New Year as well as tightness in tungsten concentrates.
Rebar prices in the US have risen, with US steelmaker Nucor following the lead of Commercial Metals Co in raising rebar prices by $25 per ton ($1.25 per hundredweight).
British Steel has also announced price increases for both its sections and wire rod offerings, with both driven by stronger consumption.
Turkish long steel mill Kardemir has also raised its domestic prices for rebar, round bar, wire rod, billet, angles and pig iron.
Meanwhile, US ferrous scrap export prices have risen based on the Turkish appetite for the product, with two new bulk sales pushing US export prices higher.
The European Commission, Parliament and Council of the European Union have reached an agreement on the reform of Trade Defence Instruments, the commission said.