ASIAN MORNING BRIEF 15/11: LME base metals move higher on crude oil rebound; MJP primary aluminium stocks down in October, Marubeni says; ICDX tin trades halt due to supply disruptions

The latest news and price moves to start the Asian day on Thursday November 15.

Base metal prices on the London Metal Exchange were predominantly higher at the close of trading on Wednesday November 14, boosted by a steady rebound in global benchmark crude oil futures and a marginal retreat in the United States’ dollar index. Read more in our live futures report.

Here are how prices looked at the close of trading:


Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama slipped by 1% month on month in October, the latest data from major Japanese trading house Marubeni Corp show.

Tin trades on the Indonesia Commodity & Derivatives Exchange have completely halted due to significant supply disruptions in the country, Fastmarkets heard on Wednesday.

The first deals for 2019 special high-grade zinc supply in Europe point to a decline in the annual zinc premium compared with last year but Nyrstar’s financial troubles are complicating negotiations and raising concerns that supply might turn out to be tighter than anticipated.

Southern European domestic prices for hot-rolled coil (HRC) fell over the past week, sources said on Wednesday.

European prices for mesh-quality wire rod rose across the northern and southern parts of the continent on Wednesday, with the volume available in the EU’s import quota continuing to go down.

What to read next
Fastmarkets is proposing a realignment of its dealer selling price for ferrous scrap machine shop turnings in Houston, effective from the September 2022 monthly settlement.
Participants in the US steel market were divided on the impact of a price increase from Nucor’s sheet mill group this week, with some suggesting hot-rolled coil prices could fall further while others were optimistic that announcement could halt - or even reverse — the recent downtrend
Chromite prices rose further in the two weeks to Tuesday May 31 on support from cost pressures and logistical issues in South Africa
UG2/MG chrome ore prices experienced major declines in the week to Tuesday July 12, dropping by $15 per tonne week on week, as the market saw the beginnings of a break in the continuing stalemate of recent weeks
The European charge and high-carbon ferro-chrome benchmark for the third quarter of 2022 has slumped by 16.7% from the previous quarter’s settlement to $1.80 per lb
Executives at major flat-rolled steel producers in the United States discussed three common themes during their companies’ earnings calls for the second quarter of 2022, sharing views on a potential recession, affects from recent government policy changes and trends in steel raw materials
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed