ASIAN MORNING BRIEF 14/09: Ali execs advocate for dialogue on Chinese overcapacity; Analysts bullish on ali for 2019, with or without Rusal; Assurance review of MB benchmark prices completed
The latest news and price moves to start the Asian day on Friday September 14.
Base metal prices on the London Metal Exchange held steady at the close of trading on Thursday September 13, with the complex maintaining its midweek price gains amid a continued downturn in the United States dollar index. Read more in our live futures report.
Here are how prices looked at the close of trading:
A global dialogue will do more to resolve Chinese aluminium overcapacity than tariffs, industry executives said at Metal Bulletin’s 33rd International Aluminium conference in Berlin.
Meanwhile, analysts who spoke at the conference have a bullish outlook for aluminium prices in 2019, regardless of whether the US Department of the Treasury’s sanctions against UC Rusal Plc are resolved before the October 23 deadline.
An external assurance review of some of Metal Bulletin’s benchmark prices has been competed by independent professional services company PricewaterhouseCoopers.
Sales of Chinese automobiles declined for a second month in a row in August, dampening expectations for hot- and cold-rolled coil steel demand.
Shanghai copper premiums have jumped 13% in two weeks amid the continuing US-China trade war.
Triland Metals has appointed Vaseem Karbhari as head of ferrous sales and marketing. He will join the company’s London office in mid-September.