ASIAN MORNING BRIEF 26/04: LME base metals mixed; Aluminium market panic subsides amid loosening in sanctions; Giannini leaving Gerald Group

The latest news and price moves to start the Asian day on Thursday April 26.

Base metals on the London Metal Exchange were mixed at the close of trading on Wednesday April 25, with zinc falling nearly 2.5% after a 30,075-tonne delivery into Antwerp rattled price sentiment. Read more in our live futures report.

Here are how prices looked at Wednesday’s close:

Comex copper prices dipped in morning trading amid a rising dollar and a lack of fresh catalysts.

Sanction panic in the aluminium market has calmed following a slight loosening of sanctions on UC Rusal material by the US Department of the Treasury’s Office of Foreign Assets and Control.

Lucas Giannini, an aluminium trader at Gerald Group in London, will leave the company at the end of April, sources close to the situation told Metal Bulletin.

The LME has announced further guidance on treating sanction-affected contracts, highlighting an extended wind-down period for open positions with Rusal.

The manganese supply squeeze continued to push manganese flakes higher this week, with prices climbing more than 8%.

China’s stainless flat steel product export volumes rose in March in both monthly and annual comparisons, with market activity resuming in the region after February’s lull for the Lunar New Year celebrations.

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