EUROPEAN MORNING BRIEF 19/10: SHFE base metals broadly down; AMG Vanadium to double spent catalyst processing capacity; year-end Mn ore rally unlikely - sources
Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Friday October 19.
Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Friday, with weaker-than-expected economic data from China sparking a wave of risk-off sentiment in the base metals market.
Check Metal Bulletin’s live futures report here.
AMG Vanadium LLC has decided to proceed with expansion plans that will more than double its spent catalyst processing capacity and significantly increase vanadium production capacity at its North American operations by 2021.
Manganese market participants believe that 2018 will be the first year since 2015 that will end without a dramatic fourth-quarter ore price rally.
Molybdenum prices have dropped in Europe in line with demand in the past few days, with traders waiting for consumer buying interest to pick up before committing to any significant inter-merchant business, sources said.
Australian lithium miner Galaxy Resources reported a drop in mining volumes and lithium spodumene production quarter on quarter in the three months to September 2018.
And in case you missed it, Singapore’s Supreme Court has frozen $8,997,149.96 of metal trading company Kyen Resources’ assets through an injunction filed by rival merchant Hyundai Corp on October 11.