EUROPEAN MORNING BRIEF 10/12: SHFE zinc leads the complex down; US Treasury moves Rusal deadline to Jan 21; Nov Cu blister copper RC drops

Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Monday December 10.

All base metals prices, barring that of aluminium, on the Shanghai Futures Exchange fell during Asian morning trading on Monday December 10 amid disappointing economic data out of China.

Check Fastmarkets MB’s live futures report here.

w.jpg

The US Treasury Department’s Office of Foreign Assets Control (OFAC) has extended the expiration of general licenses related to the UC Rusal sanctions to January 21 from January 7.

Click here for trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB.

Refining charges(RC) for blister copper imported into China dropped for the fifth consecutive month amid uncertainty over overseas supply and lower spot interest during annual negotiations.

Having witnessing a decline since mid-November due to producers’ book-squaring needs in the run up to the end of year, Chinese cobalt sulfate prices posted a modest rebound ahead of the weekend last week after an earlier sell-off in the spot market dried up.

The United States Treasury must maintain its sanctions on companies associated with Oleg Deripaska until he relinquishes control of both EN+ and Rusal and receives no benefit from them, a senior US senator said.

What to read next
A 120-day closure of four Illinois dams scheduled for 2023 will disrupt barge shipments and have potentially both negative and positive impacts on scrap and finished steel products from Canada to Texas
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
Low supply, strong demand to spur scrap prices higher in Feb, market says
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed