EUROPEAN MORNING BRIEF 11/12: SHFE base metals broadly recover; China FeSi market extends price gains; Schachler to leave Aurubis in June 2019

Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Tuesday December 11.

Base metals prices on the Shanghai Futures Exchange were largely up during Asian morning trading on Tuesday, with positive trade headlines sparking a bout of short covering across the complex.

Check Fastmarkets MB’s live futures report here.

London Metal Exchange, base metals prices

Shanghai Futures Exchange, base metals prices

The Chinese ferro-silicon market climbed further on renewed demand in the week ended December 7, while European prices have been hemmed in while suppliers and consumers negotiate long-term delivery settlements.

Aurubis Executive Board chairman Jürgen Schachler will leave the company on June 30 next year, the company said in a release today.

Nickel pig iron (NPI) is set to extend its dominant role in nickel supply in 2019, with output in both China and Indonesia rising further as a number of key projects come online.

A drop in demand for alumina and supply from new projects coming on stream in 2019 will put Chinese alumina prices under pressure next year, according to market participants

Trafigura has written off $72 million of the equity value of its stake in zinc and lead smelting company Nyrstar, it said in its annual results on Monday, while detailing growth in base metals trading volumes.

Alufer Mining has shipped more than 1 million tonnes of bauxite from its Bel Air project in Guinea and has several offtake contracts in place for 2019, chief executive officer Bernie Pryor told Fastmarkets MB.

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