ASIAN MORNING BRIEF 21/09: Base metals mostly rebound; LME Week 2018 schedule of events; Wide scrap-steel price spread may not last, Stemcor CEO says
The latest news and price moves to start the Asian day on Friday September 21.
Base metals prices on the London Metal Exchange edged mostly higher at the close of business on Thursday September 20 but the complex lacked fresh directional news. Read more in our live futures report.
Here are how prices looked at the close of trading:
LME Week 2018, the largest annual gathering of metals and mining figures in the world, will start on October 7, Check out the schedule of events.
The wide spread between ferrous scrap and steel prices might not last going into next year, according to Stemcor’s chief executive officer.
Alumina prices have seen a steep decline for the first time since May after a number of cargoes were reported to have traded at lower levels.
Turkey has imposed a new 25% duty on steel imports, which is payable once product-specific quotas have been exceeded.
Southeast Asian steel billet prices have softened this week, with a mismatch between bids and offers keeping trading activity limited.
Molybdenum oxide prices in Europe have dropped, with consumers in the steel sector said to be have been mostly absent for the past month.
Brazilian flat and long steel producer Cia Siderúrgica Nacional (CSN) has reached an agreement with state environmental authorities to maintain operations at its Volta Redonda unit.