ASIAN MORNING BRIEF 20/09: LME zinc strongest performer in mixed base metals trading; European CRC prices slip due to competition from imports; HRC prices move lower in EU
The latest news and price moves to start the Asian day on Thursday September 20.
Base metals prices on the London Metal Exchange closed without a clear pattern on Wednesday September 19, although zinc was again the strongest performer. Read more in our live futures report.
Here are how prices looked at the close of trading:
The European Union’s domestic prices for cold-rolled coil declined this week due to competition from imports, market participants said.
Domestic hot-rolled coil prices in Europe also moved down over the past week after market participants expected prices to remain stable, according to market sources.
Market fundamentals remain firm in the European ferro-titanium market in active trading, although some deals have pushed prices slightly lower, industry sources said.
Prices for rebar produced and delivered in southern Europe continued to soften this week while domestic mills attempted to combat buyer interest in imported metal, market participants said. Similarly, prices for rebar produced and delivered in northern Europe narrowed downward by €5 per tonne over the past week but prices are expected to remain largely stable over the next few weeks, according to industry sources.
European mesh-quality wire rod prices were stable in both the north and south of the region over the past week, with few buyers or sellers coming to market.
Saeed Ghumran Al Remeithi, chief executive officer of United Arab Emirates steelmaker Emirates Steel, has been appointed chairman of the economic committee of World Steel Association.
Daniel Muñiz Quintanilla has left Grupo México SAB de CV after 12 years with the company in various management roles.