EUROPEAN MORNING BRIEF 17/07:SHFE copper, aluminium find support; Raptor profits from price volatility; low-grade Mn ore prices overtake high grade
Good morning from Metal Bulletin’s offices in Asia as we bring you the latest news and pricing stories on Tuesday July 17.
Copper and aluminium prices on the Shanghai Futures Exchange were up during Asian morning trading on Tuesday, with the former finding support from potential supply-side disruptions, while the light metal benefited from supply concerns surrounding the sanctions on Russian aluminium producer UC Rusal.
Check Metal Bulletin’s live futures report here.
Base metal market volatility is here for the long haul, according to a fund that has banked profits from the violent sanction-led price swings that have characterized market movements in the first half of 2018.
Higher producer sales prices for 37% manganese ore have moved the low-grade market ahead of high grade in Metal Bulletin’s pricing session in the week ended July 13.
Ferro-chrome prices continued to fall in China on July 13 after smelters restarts boosted the domestic supply outlook.
The executive board of steelmaker Salzgitter has submitted a purchase offer for a number of ArcelorMittal steelmaking sites in Europe, the German company said on Monday.