ASIAN MORNING BRIEF 09/01: Aluminium defies trend as LME base metals rise; NFEx’s Bradley, Coupland resign from board; indium prices rise on tight supply
The latest news and price moves to start the Asian day on Tuesday January 9.
Aluminium was the only metal to end lower at the end of trading on the London Metal Exchange on Monday January 8. Read more in our live futures report.
Here are how prices looked at the end of the day on Monday.
NFEx Markets’ chief operating officer and its most senior director, Mark Bradley, has resigned from the board alongside non-executive director Jim Coupland, filings on the UK’s Companies House showed on January 8.
Indium prices have risen on the high end of the range due to the tight availability of crude indium.
European gallium prices moved higher due to low Chinese stock levels, according to key data from Metal Bulletin’s pricing session on January 5.
Major Chinese tungsten exporter Xiamen Tungsten has been refused an export license for 2018-19, according to China’s Ministry of Commerce.
Amsterdam has been approved as an LME delivery point for primary aluminium, aluminium alloy, lead, nickel, tin and zinc, the exchange said on Monday.
European antimony prices have started the year on a positive note, with prices edging up slightly for both MMTA standard grade II and trioxide grade material in-warehouse Rotterdam due to a tightening market.
China’s silicon prices rose last week despite limited trading activity in the spot market following the New Year holiday, according to Metal Bulletin’s assessment.
China’s ferro-chrome market weakened over the past week due to a lull in activity after domestic mills wrapped up their latest round of purchasing negotiations while ore prices were supported by tight supply and firm demand from smelters.