ASIAN MORNING BRIEF 27/11: EV market could grow by 10x by 2025; aluminium billet premiums flat; Morocco appeals WTO ruling
The latest news and price moves to start the Asian day on Tuesday November 27.
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday November 26, with downside pressure emerging amid broad strength in the United States dollar index and continued global trade tensions. Read more in our live futures report.
Here are how prices looked at the close of trading:
The global market for electric vehicle (EV) batteries in 2025 could be 10 times bigger than in 2018, Swiss investment bank UBS said in a report published last week.
Global aluminium billet premiums have been mostly stable over the past month although the Italian billet premium range widened, reflecting offers there for material with many different origins.
Morocco has filed an appeal with the World Trade Organization against its recent ruling that the country’s anti-dumping duty on Turkey-origin hot-rolled coil (HRC) violated the trade body’s rules, the WTO said on November 23.
Seaborne iron ore concentrate prices dipped on November 23 due to limited demand from major Chinese buyers and weakening high-grade iron ore prices.
Turkish domestic scrap prices have continued to soften over the past week due to limited demand and falling finished steel values, sources said on November 26.
Creditors of Brazilian steel producer and distributor Aço Cearense earlier this month approved a plan for the company’s business recovery that included a restructuring of most of its debt.