EUROPEAN MORNING BRIEF 14/08: SHFE base metals all down; South32 acquires Arizona Mining; global manganese wrap

Good morning from Metal Bulletin’s offices in Asia as we bring you the latest news and pricing stories on Tuesday August 14.

Base metals prices on the Shanghai Futures Exchange succumbed to pressure from a volatile currency market during morning trading on Tuesday, with the fall of the Turkish lira against the US dollar negatively affecting market sentiment.

Check Metal Bulletin’s live futures report here.


Docherty, Kyle (MB - SG)


Docherty, Kyle (MB - SG)

South32 Ltd has completed the acquisition of Arizona Mining for $1.3bln, building further on the Perth, Australia-headquartered zinc portfolio at a time of relatively limited greenfield mine supply.

The Sukpo zinc smelter in South Korea, which has links to major producer Korea Zinc, has been closed and will remain so until September for environmental reasons, a company source told Metal Bulletin.

Metal Bulletin’s manganese ore indices lacked direction in the week ended Friday August 10 prior to September offers, while market participants queried whether fundamentals or traders taking positions had supported alloys on the Chinese spot market.

Ample supply and weak demand continued to push ammonium paratungstate prices down in the week ended August 10.

What to read next
Following a six-week consultation period, Fastmarkets can confirm it will amend the calculation method for all the average functions on the Fastmarkets platform from Wednesday March 1, 2023.
Consolidation, the recycling of electric vehicle batteries, US steel exports and the benefits of sustainable steelmaking were key talking points at Fastmarkets’ Scrap & Steel 2023 conference in Dallas in January
Green shoots of increased demand will emerge in US ferrous markets courtesy of the Biden administration’s trillion-dollar infrastructure package in 2023, Schnitzer’s executive vice president and chief strategy officer Richard Peach said at Fastmarkets’ Steel and Scrap Conference 2023 in Dallas, Texas
US special bar quality steel prices rose in January in line with rising scrap and alloy costs, according to market participants
European metal industry association Eurometaux has called on the European Commission to follow the lead shown by the Inflation Reduction Act and deliver a “powerful” policy to support the industry in the EU while it tries to keep up with the move to a new generation of energy markets
The fallout from Russia’s invasion of Ukraine is changing global trade flows for bauxite, with Brazilian material once again flowing into China and with the introduction of export restrictions elsewhere likely to influence availability through 2023
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.