ASIAN MORNING BRIEF 23/08: LME base metals get boost; Trade assn calls for China-US ali overcapacity talks; Steel safeguard case started to protect Russia from Ukraine imports, sources say

The latest news and price moves to start the Asian day on Thursday August 23.

Base metals on the London Metal Exchange were mostly higher at the close of trading on Wednesday August 22, with zinc and tin posting sizable gains while the complex benefited from positive market sentiment on US-Sino trade talks. Read more in our live futures report.

Here are how prices looked at the close of trading:

The Aluminum Association wants US and Chinese officials to address the issue of Beijing’s aluminium overcapacity at meetings on August 22-23 with an eye toward reaching a long-term solution.

A safeguard investigation by the Eurasian Economic Commission was started primarily to protect the Russian market from imports originating from Ukraine, market sources told Metal Bulletin.

In the battle between macro and fundamental copper price drivers, copper bears hold the strongest of all trump cards – trade war.

Domestic cold-rolled coil prices in the European Union will remain stable until late August to the beginning of September, when the market will start to recover from a seasonal market slowdown.

International metals group Liberty House is “among the front runners” to buy ArcelorMittal’s Galati plant in Romania and its Ostrava site in the Czech Republic, market sources told Metal Bulletin on Wednesday August 22.

Yvonne Li
yvonne.li@amm.com

What to read next
Explore the base metals outlook 2026 and learn how market trends are impacting copper, tin, and other metals this year.
Fastmarkets proposes to amend the pricing frequency of its copper grade A cathode premium, delivered Germany; copper grade A cathode premium, cif Leghorn; and copper EQ cathode premium, cif Europe to one a week from the current fortnightly basis, effective December 30.
Understand the dynamics of Saudi Arabia steel scrap prices with insights on local market conditions and demand fluctuations.
Fastmarkets wishes to clarify details around the pricing calendar for its MB-FEU-0001 Ferro-tungsten basis 75% W, in-whs dup Rotterdam; MB-FEV-0001 Ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe; and MB-FN-0001 Ferro-niobium 63-67% delivered consumer works, dp, Europe price assessments owing to the year-end festive period.
The publication of Fastmarkets’ black mass inferred prices for Monday December 8 were delayed due to a technical error. Fastmarkets pricing database has been updated.
This price is a part of the Fastmarkets scrap package. For more information on our North America Ferrous Scrap methodology and specifications please click here. To get in touch about access to this price assessment, please contact customer.success@fastmarkets.com.