EUROPEAN MORNING BRIEF 14/09: SHFE base metals prices mixed; Metal Bulletin completes benchmark assurance review; execs advocate talks, not tariffs on China ali overcapacity

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

Base metals prices on the Shanghai Futures Exchange were mixed again during Asian morning trading on Friday, with the complex coming under pressure from disappointing economic data from the United States and comments from US President Donald Trump that seemed to downplay any progress made in the US-China trade dispute.

Check Metal Bulletin’s live futures report here.

London Metal Exchange, base metals prices

Shanghai Futures Exchange, base metals prices

Metal Bulletin has successfully completed an external assurance review of some of its benchmark prices carried out by independent professional services company PricewaterhouseCoopers.

A global dialogue intended to resolve the issue of overcapacity in China’s aluminium production would be better for creating a fair global market than the imposition of tariffs, a panel of industry experts has said.

Copper and brass scrap prices in the US were mostly in a holding pattern over the past week, with market participants unsure whether this marks a temporary reprieve or signals a bottoming in the market.

Trade war-related currency fluctuations have led to an unexpected spike in Asia copper premiums after a fall in the yuan opened import arbitrage opportunities in the region.

UK ferrous scrap prices for deliveries in September have fallen after a run of losses on a spot basis in the past few weeks, trade sources told Metal Bulletin on Thursday September 13.

The export market for pig iron from the Commonwealth of Independent States has weakened on falling scrap prices in the major outlet regions.