EUROPEAN MORNING BRIEF 12/12: SHFE base metals prices broadly up; China’s Al exports jump 41% in Nov vs last year; backwardation pushes Rotterdam, MJP Al premiums down

Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Wednesday December 12.

Base metal prices, barring those for aluminium, on the Shanghai Futures Exchange were up across the board during Asian morning trading on Wednesday December 12, with the complex continuing to find support from positive trade headlines.

Check Fastmarkets MB’s live futures report here.

London Metal Exchange, base metals prices

Shanghai Futures Exchange, base metals prices

China’s exports of unwrought aluminium and aluminium products increased by 41% in November compared with the same month of last year, according to preliminary Chinese customs data.

A sustained backwardation in the London Metal Exchange’s December/January spread pushed premiums in Europe and Japan down in the week ended Tuesday. Elsewhere, premiums in the United States and Brazil were unchanged amid quiet trading conditions.

TradeCloud is set to give its users the opportunity to report business concluded on the platform to Fastmarkets automatically, according to the former’s chief executive officer.

Brazil’s Companhia Brasileira de Alumínio will invest 30 million Reais ($7.7 million) to increase its aluminium billet production capacity, the company’s primary operations director Luis Jorge Nunes told Fastmarkets MB on Monday.

What to read next
The publication of Fastmarkets’ assessments for nickel 4x4 cathode, nickel briquette and nickel uncut cathode premiums in-whs Rotterdam was delayed on Tuesday July 16 because of a reporter error.
Fastmarkets has corrected its alumina index inferred prices, which were published incorrectly on Tuesday July 15.
The United States' copper recycling industry is ramping up pressure on policymakers to impose some form of export controls on high-purity copper scrap, arguing that current trade dynamics – particularly with China – are distorting prices, weakening domestic capacity and undermining national security goals.
After a month-long consultation period, Fastmarkets is amending the below specifications, following no negative feedback from market participants and internal data analysis. The following changes will take place: The new specifications are as follows, with amendments in italics: MB-CU-0002 Copper grade 1 cathode premium, ddp Midwest US, US cents/lb Quality: Grade A 99.9935% min copper cathode conforming to LME […]
The publication of the affected prices was delayed for 50 minutes. The following indices were published late: MB-MNO-0001 Manganese ore high grade index, cif Tianjin, $ per dmtu MB-MNO-0002 Manganese ore semi carbonate index, 36.5% Mn, fob Port Elizabeth, $/dmtu MB-MNO-0003 Manganese ore semi carbonate index, 36.5% Mn, cif Tianjin, $/dmtu These prices are a part of the […]
Fastmarkets proposes to amend the specifications of its weekly price assessment for MB-STE-0037 steel rebar domestic exw Italy to better reflect the material traded in the market.