EUROPEAN MORNING BRIEF 09/08: Commerce adjusts duty for Chinese aluminium sheet; Aqua Metals optimistic on recycling tech outlook; Trade war risk to US copper ‘overblown’

Good morning from Metal Bulletin’s offices in Asia as we bring you the latest news and pricing stories on Thursday August 9.

Check Metal Bulletin’s live futures report here.

LME snapshot at 0137 London time
Latest 3M  LME Prices
  Price ($/t)  Change since yesterday’s close ($)
Copper 6,171.50 -1.5
Aluminium 2,130.50 24.5
Lead 2,140 2.5
Zinc 2,597 -15
Tin 19515 115
Nickel 13,950 -100

SHFE snapshot at 0937 Shanghai time
Most traded SHFE contracts
  Price (yuan/t)  Change since yesterday’s close (yuan)
Copper  49,510 -20
Aluminium 14,835 340
Zinc 21,480 -45
Lead 18,405 -50
Tin  146,330 -800
Nickel  114,120 10

Canadian copper mining company Taseko Mining believes that concerns about trade disputes affecting mining companies that export to Asia is “totally overblown,” president and chief executive officer Russell Hallbauer said in a conference summarising the company’s April-June financial results on Wednesday August 8.

Cobalt Blockchain and Traxys Europe have signed a letter of intent to establish a commercial partnership at Traxys’ cobalt hydroxide plant in Lubumbashi in the Democratic Republic of the Congo (DRC).

Global commodities merchant Castleton Commodities International (CCI) is to exit physical metals trading and reallocate capital to its energy business.

 There are likely to be challenges in scaling up commercial production ofAqua Metals’ non-polluting electrochemical lead recycling technology, but the company said it remains, but the company said it remains optimistic.

The US Department of Commerce’s International Trade Administration(ITA) has adjusted downward its preliminary anti-dumping duty margins for common alloy aluminium sheet from China, due to what the bureau deemed “a significant ministerial error”.

Novelis’ top executive says the company is still open to growth opportunities, even after wrapping up the purchase of rival Aleris Corp.