EUROPEAN MORNING BRIEF 19/12: SHFE base metal prices take divergent paths; Liberty House acquires US rod mill; DAVIES ON ORES

Good morning from Metal Bulletin’s offices in Asia, bringing the latest news and pricing stories on Tuesday December 19.

Good morning from Metal Bulletin’s offices in Asia, bringing the latest news and pricing stories on Tuesday December 19.

Base metal prices on the Shanghai Futures Exchange took divergent paths during Asian morning trading on Tuesday December 19, with nickel continuing to rise as investors opened long positions.

Check Metal Bulletin’s live futures report here.

SHFE snapshot at 10:44am Shanghai time
Most-traded SHFE contracts
Price (yuan per tonne) Change since previous session’s close (yuan)
Copper (February) 53,520 -40
Aluminium (February) 14,480 -35
Zinc (February) 25,435 -180
Lead (February) 19,390 95
Tin (January) 137,630 210
Nickel (May) 94,730 990

LME snapshot at 02:44am London time
Latest three-month LME Prices
Price ($ per tonne) Change since previous session’s close ($)
Copper 6,886 -19
Aluminium 2,062 -1
Lead 2,550.50 -10.5
Zinc 3,189.50 -6.5
Tin 19,250 -100
Nickel 11,740 -90


The manganese ore market has started the week a little timorously after sharp price increases on Friday were overshadowed by a sudden drop in demand amid sliding silico-manganese futures prices in China.

Emirates Global Aluminium (EGA) has signed a three-year supply agreement for alumina with Vietnamese state-owned firm Vinacomin, locking in supply of the raw material for its aluminium production in the United Arab Emirates.

Liberty House Group has closed on its closely-watched acquisition of the former ArcelorMittal SA rod mill in Georgetown, South Carolina.

Prices for hot- and cold-rolled steel sheet in Russia have stopped falling, with producers refusing to reduce offers for domestic buyers further amid positive export market sentiment, sources told Metal Bulletin this week.

US domestic plate prices have held steady as the market slows down heading into the holiday season.

It was India’s turn to suffer while China’s pain was eased in the US Commerce Department’s final determination of countervailing duties involving imports of cold-drawn mechanical tubing into the United States.

Special bar quality (SBQ) prices in the United States have increased $20 per ton for January shipment, in line with No. 1 busheling markets in Chicago.

Italian government agency Cassa Depositi e Prestiti (CDP) has signed an agreement with AM Investco, the ArcelorMittal-led joint venture buying Italian steelmaker Ilva.

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