EUROPEAN MORNING BRIEF 11/12: SHFE copper price buoyed; Brazil’s primary Ali exports to reach record low; cobalt price surges to fresh high

Copper prices on the Shanghai Futures Exchange edged higher during Asian morning trading on Monday, buoyed by the release of positive economic data from China as well as news of production cuts at the country’s second-largest copper smelter.

Check Metal Bulletin’s live futures report here.

Brazil’s primary aluminium export volumes are on track to reach the lowest level on record in 2017, with the two remaining local producers instead focused on sales in the domestic market. 

Cobalt prices surged to fresh highs last week after investment vehicle Cobalt 27 bought over 700 tonnes of physical metal, consumers rushed to secure units, and exchange prices surged.

Benchmark fob Australia alumina prices continued to drop last week with smelters leaving their lower bids on the table in an effort to protect their margins.

In minor metals, germanium prices jumped more than 6% over the past week, while bismuth prices fell over 1%. Click here for Metal Bulletin’s overview of the minor metals market.