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Zinc prices on the Shanghai Futures Exchange (SHFE) were well supported by falling overseas stock levels in Asian morning trading on Wednesday January 3, while copper pared overnight gains.
Check Metal Bulletin’s live futures report here.
See here for the latest global ferro-alloy price list as reported by American Metal Market and Metal Bulletin price reporters.
Indonesia had awarded quotas for 20.4 million tonnes of nickel ore exports by November 2017 after its export ban was relaxed at the start of the year, but Chinese customs data shows that only a small proportion of the ore was shipped to China, its biggest consumer.
The US Midwest aluminium premium has remained flat this week, with market participants saying that high prices on the London Metal Exchange are keeping buyers on the sidelines in the short term.
Commercial Metals Company’s acquisition of four Gerdau reinforcing bar mills will give the steelmaker a dominant position in the US market, industry analysts said.
Click here for a summary of base metals premiums across the globe for the week to Tuesday January 2.