ASIAN MORNING BRIEF 28/08: Comex copper prices rise; South Africa manganese mine suspended; Singapore rebar import prices steady
The latest news and price moves to start the Asian day on Tuesday August 28.
Comex copper prices began the week on a positive note, supported by a weaker dollar and improved fundamental backdrop. Read more in our live futures report.
The London Metal Exchange was closed on Monday August 27 due to a bank holiday in the United Kingdom.
Mining operations have been suspended at the Tshipi Borwa Manganese Mine on the orders of South Africa’s Department for Mineral Resources, the mine’s owner has announced.
Import prices for rebar in Singapore held steady over the past week amid limited negotiations in the spot market.
Rerolling-grade hot-rolled coil from Turkey failed to have much of an effect on the Vietnamese import market over the past week.
Various restrictions on the production of pellets in China have continued to fuel prices for this iron ore product while weighing on demand for concentrate.
Turkey produced 22.2 million tonnes of crude steel in January-July 2018, a 2.8% increase from 21.6 million tonnes in the corresponding 2017 period, according to Turkish steel producers association TÇÜD.
GlobalOre has added Metal Bulletin’s 62% Fe Iron Ore Index - Low Alumina (MBIOI-62-LA) to its list of indices available for trading via the platform in response to requests from a number of active members in its physical trading community, the company said on Monday August 27, the day the index was launched.