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Most three-month base metals prices on the London Metal Exchange maintained their downward trajectory during early trading on Wednesday, with recent weak Chinese economic data and a strong dollar dampening risk-on sentiment.
Check Fastmarkets MB’s live futures report here.
Zinc concentrate treatment charges (TCs) have climbed to their highest level in two and a half years, with spot parcels trading at terms well above $100 per tonne in September.
A tightened contango spread on the London Metal Exchange and the belief that regulators in the United States will lift sanctions against UC Rusal are largely responsible for softening aluminium premiums across the globe.
The European ferro-vanadium market stalled last week as consumers continued to sit on the sidelines, while US ferro-vanadium prices soared as the market continued to catch up to the sharp increases seen earlier in Europe.
Brazilian foreign trade secretariat Secex has decided not to apply provisional anti-dumping duties on imports from China of rollers for steel rolling mills, Fastmarkets MB has learnt.
The European Commission (EC) has imposed anti-dumping duties ranging from 12.3% to 35.8% on imports of seamless steel pipes and tubes from Russia and Ukraine following an expiry review, the EC said on Monday October 1.