EUROPEAN MORNING BRIEF 13/07: SHFE base metals down; US-China trade war intensifies; US copper, brass scrap prices

Good morning from Metal Bulletin’s office in Asia as we bring you the latest news and pricing stories on Friday July 13.

Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Friday, with the market still troubled by the escalating trade war between China and the United States.

Zinc led the SHFE base metals complex lower during the early trading session on Friday, with sister-metal lead experiencing a similar degree of weakness. Tin was the most resilient of the complex, and was the only metal to secure any gains this morning.

Check Metal Bulletin’s live futures report here.


Docherty, Kyle (MB - SG)


Docherty, Kyle (MB - SG)

The United States Trade Representative (USTR), responding to retaliatory tariffs from China, has released a third list of Chinese products that could soon be hit with 10% duties, stoking the flames of an escalating US-China trade war.

Copper and brass scrap markets in the US have eroded in value due to a combination of ample scrap supply, steep drops in primary metal prices on Comex and limited demand.

Aluminium consumers in the US are clamoring for an alternative to the current Midwest aluminium premium, reacting to the premium’s surge to a near all-time high this year.

Molybdic oxide prices in Europe have added to gains made last Friday amid more buying interest so far this week after higher-priced sales of oxide in Asia affected market sentiment in the West.

What to read next
The publication of Fastmarkets’ US rebar prices took place earlier than scheduled on Wednesday March 22 due to a reviewer error.
Fastmarkets proposes to amend the frequency of its P1020A aluminium import premium assessment in Brazil to monthly, from fortnightly.
Prices for cobalt metal have witnessed a sustained rally and recovery in recent weeks, after hitting lows at the beginning of the year, even while market participants see challenging conditions on the supply side in the longer term
Glencore’s Gary Nagle might have spoken too soon when he said that his company wouldn’t be hit by a nickel fraud similar to that seen by its rival, Trafigura
Fastmarkets proposes to amend its steel cut-to-length plate carbon grade, fob mill US assessment to exclude material below 0.375 inches of thickness, which is sold with an added cost by several major mills.
The European Union’s much-anticipated Critical Raw Materials Act, announced on Thursday March 16 by European Commission president Ursula von der Leyen, has set out new lists of the raw materials now formally designated as strategic and critical
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.