ASIAN MORNING BRIEF 30/03: Secondary aluminium market chaotic; mining labor talks could weigh on copper; EU steel safeguards may hurt distributors
The latest news and price moves to start the Asian day on Friday March 30.
Base metals prices on the London Metal Exchange were split into two camps at the close on Thursday March 29, with the market shutting down for a long Easter weekend. Read more here in our live futures report.
Here are how LME prices looked at Thursday’s close:
The European secondary aluminium market is said to be in a state of “madness” as prices hit a 2018 low for the seventh straight week due to falling London Metal Exchange prices and increased availability.
Labor negotiations at several of the world’s leading copper mines are set to take place this year - and they may have a significant impact on global copper supply and prices.
Steel safeguard measures proposed by the European Union could disadvantage independent metal distributors, sources told Metal Bulletin.
Chinese blister copper refining charges continue to climb on ample stocks along with softened demand for refined copper.
International miners meeting in the Democratic Republic of Congo have submitted a formal proposal to the country’s Ministry of Mines meant to address concerns of royalty rates and the price of key commodities.
And finally, no injuries or change in production were reported following an explosion at Companhia Siderúrgica Nacional (CSN) earlier this week.