EUROPEAN MORNING BRIEF 15/01: Most SHFE base metals prices weaker; Sherritt raises Ambatovy nickel, cobalt guidance; ABI smelter lockout pressures US Midwest Ali premium
Good morning from Metal Bulletin’s office in Shanghai, as we bring you the latest news and pricing stories on Monday January 15.
Base metals prices on the Shanghai Futures Exchange were mostly lower during Asian morning trading on Monday after consolidation set in following last week’s gains, with only aluminium and nickel prices moving higher so far in the morning.
Check Metal Bulletin’s live futures report here.
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Sherritt International Corp expects finished nickel and cobalt production at its Ambatovy mine in Madagascar to rise in 2018, the company said last Friday.
News of the lockout at Aluminerie de Bécancour Inc’s (ABI’s) aluminium smelter in the Canadian province of Quebec appears to be the catalyst of the US Midwest P1020 premium’s push into double-digit territory, market participants told American Metal Market.
The US International Trade Commission has voted to allow a self-initiated Commerce Department anti-dumping and countervailing duty investigation into imports of Chinese common alloy aluminium sheet to continue, the agency said on Friday.
Price trends in the global billet market diverged in the week ended Friday January 12 because of a number of factors.
Export prices of steel billet from Latin America increased last week, amid higher global prices, Metal Bulletin has learned.