ASIAN MORNING BRIEF 13/11: Lead price drops 2% on LME; Chinese copper premiums lower; Fastmarkets launches daily HRC index

The latest news and price moves to start the Asian day on Tuesday November 13.

The three-month lead price dropped almost 2% during the London Metal Exchange closing trade session on Monday November 12. Read more in our live futures report.

Here are how prices looked at the close of trading:

Sluggish demand could lead to softer spot copper premiums in China next year, Arc Resources general manager Milton Li said.

Fastmarkets launched its daily US Midwest Hot-Rolled Coil Index on November 12.

China’s auto output fell by 10.1% year on year in October, leading to annual contractions in output and sales for the first 10 months of the year and causing prices to drop for upstream steel goods such as cold-rolled coil.

Seaborne iron ore concentrate prices eased during the week ended November 9 amid limited demand from major buyer China due to the availability of cheaper domestic alternatives.

China’s hot-rolled coil price plunged on November 12 after sellers made big cuts to secure bookings.

China’s exports of unwrought aluminium and aluminium products increased by 37.7% year on year in October but fell by 4.9% compared with the previous month, preliminary Chinese customs data released on November 8 show.

ICBC Standard Bank expects the price of copper to recover toward $7,000 per tonne because investors have overstated their worries about the effects on demand stemming from trade tensions between the United States and China.

What to read next
Steel trading and production have come to a halt in the eastern Turkish region of Iskenderun following a devastating earthquake that hit the region on Monday February 6 and put mills in the area under force majeure, sources told Fastmarkets on Tuesday
A 120-day closure of four Illinois dams scheduled for 2023 will disrupt barge shipments and have potentially both negative and positive impacts on scrap and finished steel products from Canada to Texas
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.