ASIAN MORNING BRIEF 29/06: Base metals drift lower on LME; WWS shuts all ops in US, Europe; UK authorities approve Sibanye-Stillwater buy of PGM producer Lonmin
The latest news and price moves to start the Asian day on Friday June 29.
Base metals prices on the London Metal Exchange closed mostly in negative territory on Thursday June 28, with only zinc defying the trend. Read more in our live futures report.
Here are how prices looked at the close of trading:
Worldwide Warehouse Solutions (WWS) is closing down its European operations by the end of the week, having already shut its operation in the United States, sources told Metal Bulletin.
The buy of platinum group metals producer Lonmin Plc by Sibanye-Stillwater has been unconditionally approved by the UK Competition and Markets Authority, with the deal now required to receive approval from South African competition authorities.
Prices in the US for imported flat-rolled steel have risen but market participants fear a correction looms.
The US Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) have signed a new memorandum of understanding aimed at easing the regulatory burden on financial market participants.
The European Commission has requested the “sale availability” of four ArcelorMittal CLN Distribuzione Italia steel service centers, according to an executive representing the service centers.
Oil and gas conglomerate BP plc has agreed to buy Chargemaster, the United Kingdom’s largest electric vehicle charging company - with plans to deploy networks across the UK in the next year.