ASIAN MORNING BRIEF 31/07: Lead, aluminium lead LME gainers; ArcelorMittal makes further commitments for Ilva; Recylex revenue from lead sales tumbles
The latest news and price moves to start the Asian day on Tuesday July 31.
Base metals on the London Metal Exchange ended mostly higher at the close of trading on Monday July 30, with aluminium and lead’s 1% climb leading the way. Read more here in our live futures report.
Here are how prices looked at the close of trading:
ArcelorMittal has presented Italian authorities with a list of the additional commitments it has accepted for the lease and purchase agreement for it to acquire steelmaker Ilva.
European lead producer Recylex’s revenue from lead sales fell by 18% year on year in the first half of this year due to a transitioning of its Weser-Metall smelter to a new reduction furnace.
Teck Resources expects to remove partial force majeure on its germanium output after the fourth-quarter restart of one of the fuming furnaces at its zinc and lead smelting and refining complex, Trail Operations.
Katoen Natie Commodities Antwerp has withdrawn entirely from London Metal Exchange warehouse services in Europe, the exchange said.
The export markets for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States were flat as buyers remained wary of further price declines due to weak prices for Chinese material.
The price of domestic auto bundle scrap in Turkey has been steady over the past week while the price of shipbreaking scrap has fallen slightly because of weak demand, sources said.