ASIAN MORNING BRIEF 25/01: LME base metals bolstered by weaker dollar; Comex copper bounces back; copper premiums stable in US, Europe

The latest news and price moves to start the Asian day on Thursday January 25.

Base metals prices on the London Metal Exchange put in a strong performance during the afternoon of Wednesday January 24, supported by the weaker dollar as the complex closed in positive territory across the board. Read more in our live futures report.

Here are how prices looked at the end of the day on Wednesday.

In the United States, Comex copper prices bounced back from the one-month low hit earlier this week, a reflection of the dollar hitting its lowest point since December 2014.

Moreover, copper premiums in the US and Europe were little changed this week, although US participants are gaining more confidence as the year progresses, while premiums in China have again come under downward pressure due to sluggish demand.

Chilean miner Antofagasta produced 704,300 tonnes of copper in 2017, down 0.7% from a year earlier, mainly due to lower grades at the Los Pelambres and Centinela mines.

Chinese cobalt metal prices rose slightly at midweek, closely following the trend in international cobalt prices.

Derek John Benham, who had more than 40 years of experience in the metals industry – mostly in cobalt and nickel – died earlier this month at the age of 65.

Manganese flake prices surged above $2,000 per tonne due to ongoing environmental inspections in China, with further production disruptions adding fresh impetus to this year’s rally.

US silicon metal prices are expected to find limited support from President Donald Trump’s decision to impose hefty duties on imported solar panels, industry sources said.

In the steel market, Pakistani flat steel roller and coater International Steels plans to set up service centers in Karachi and Lahore, the company said.

What to read next
The publication of Fastmarkets’ assessments for nickel 4x4 cathode, nickel briquette and nickel uncut cathode premiums in-whs Rotterdam was delayed on Tuesday July 16 because of a reporter error.
Fastmarkets has corrected its alumina index inferred prices, which were published incorrectly on Tuesday July 15.
The United States' copper recycling industry is ramping up pressure on policymakers to impose some form of export controls on high-purity copper scrap, arguing that current trade dynamics – particularly with China – are distorting prices, weakening domestic capacity and undermining national security goals.
Fastmarkets launched two new price assessments for Indonesia’s domestic trade in nickel ore on Tuesday July 15. The two price assessments are for domestic trades of Indonesian laterite ores with 1.6% and 1.2% nickel content. Indonesia now accounts for 60% of the global nickel supplies and while there is an official government reference price, known […]
US copper scrap market participants are shifting from COMEX to LME pricing in response to extreme price volatility and a new 50% copper import tariff. The change is influencing discount formulas, export strategies and long-term trading dynamics across the sector.
The proposal follows preliminary discussions with the market and internal analysis of price usage, which suggests low market liquidity and a lack of demand. Specifically, Fastmarkets is proposing to discontinue: MB-CU-0410 Copper rod premium, ddp Midwest US, US cents/lbQuality: Purity of 99.95-99.99%. Thicknesses of 8 millimeters or 0.3125 inchesQuantity: Min 25,000 poundsLocation: Delivered US MidwestUnit: US […]