EUROPEAN MORNING BRIEF 06/08: SHFE nickel rebounds; COBC, DLT Labs develop blockchain to trace supply chain; chrome ore, alloy prices slide in China
Good morning from Metal Bulletin’s offices in Asia as we bring you the latest news and pricing stories on Monday August 6.
Base metals prices on the Shanghai Futures Exchange were up across the board during morning trading on Monday, with a retreat in the dollar index and stronger yuan providing support to the complex.
Check Metal Bulletin’s live futures report here.
Canadian resource firm Cobalt Blockchain Inc (COBC) and DLT Labs Inc have completed a joint venture agreement to commercialize Mintrax, a blockchain platform to track the provenance of metals and minerals through the mining supply chain.
Seaborne iron ore concentrate prices continued to soften last week, with environmental protection measures impacting pelletizing plants in China.
Domestic Chinese ferro-chrome prices fell over the past week due to a combination of surprisingly low tender prices from stainless steel mills and record chrome ore stock levels at Chinese ports. Check Metal Bulletin’s latest global chrome snapshot for more details.
Lithium carbonate battery-grade spot prices in China continued to slide last week on weak downstream demand. For an overview of the battery raw materials markets and their price moves from the past week, click here.