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Base metals prices on the Shanghai Futures Exchange remained under pressure during Asian morning trading on Wednesday, with concerns over trade wars and a slowing Chinese economy weighing on the complex.
The SHFE base metals were split into two camps during the early Asia session on Wednesday, with copper, aluminium and nickel prices edging downward, while the rest of the metals registered marginal gains.
Check Metal Bulletin’s live futures report here.
Global vanadium prices continued their ascent over the past week, with strength in the Chinese market setting the tone for the rest of the world.
DLA Strategic Materials, part of the US Defense Logistics Agency, is holding its July tungsten ore and concentrates material offering this week.
A production increase in the Chinese ammonium paratungstate (APT) market has pressed cargo prices in China and Europe, while a lack of demand for tungsten concentrates dragged the upstream market down.
Chinese domestic ferro-silicon prices were affected by lackluster market activity last week, with buyers waiting for further declines following production restarts, while the European ferro-silicon market suffered losses amid sluggish summer demand.