ASIAN MORNING BRIEF 13/12: LME base metals drift lower; Thailand’s Padaeng exits zinc distribution business; Greece holds emergency talks aimed at saving Larco

The latest news and price moves to start the Asian day on Thursday December 13.

Base metal prices on the London Metal Exchange had mostly drifted lower by the close on Wednesday December 12 but were confined to tight ranges throughout what was an unexceptional trading day. Read more in our live futures report.

Here are how prices looked at the close of trading:


A historic backwardation in zinc forward prices had its first major casualty, with Thailand’s foremost zinc distributor Padaeng set to close that part of its business as a result.

The government of Greece has held emergency meetings to keep state-owned ferro-nickel company Larco in production.

KME, a major European copper alloy producer, has received approval from the European Commission to acquire counterpart Mansfelder Kupfer und Messing (MKM) after five months of investigation over competition concerns, the EC said on December 11.

Glencore has flagged customer non-performance on some of its cobalt sales in the second half of the year – a time when hydroxide supplies have ramped up and realized prices for metal, sulfate and intermediates have fallen.

Aluminium scrap exports from the United States surged to a four-year high in October after global buyers took advantage of soaring supply volumes and rock-bottom prices in the domestic market.

What to read next
Fastmarkets’ Shanghai-London arbitrage calculations for base metals were published incorrectly on Wednesday September 28 due to a reporter error,
Is the ‘green’ advantage held by steel companies in the US at risk as the market adopts a more rigorous approach to reducing Scope 3 emissions?
Spot demand for aluminium is softening and Rotterdam premiums now, at the end of September 2022, are at a nine-month low, so market participants are considering whether Europe remains an attractive destination for imports
Hydro will partially curtail aluminium production at Hydro Karmøy and Hydro Husnes in Norway, the company announced on Tuesday, September 27.
Conversations and panel discussions at the Institute of Scrap Recycling Industries Roundtables in Chicago on September 14-16 largely centered around market uncertainty and navigating complex geopolitical landscapes during a time of energy transition and low domestic demand
The copper market faces macro-economic-related headwinds from the turmoil currently affecting economies worldwide, multinational commodities trader Concord Resources’ research manager, Duncan Hobbs, told delegates at the Fastmarkets Copper Conference in Barcelona, Spain, this month
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed