EUROPEAN MORNING BRIEF 20/09: SHFE base metals under pressure except tin; China ADC 12 export prices soften; Japanese steel demand dips in July
Good morning from Metal Bulletin’s offices in Asia as we bring you the latest news and pricing stories on Thursday September 20.
Tin prices on the Shanghai Futures Exchange moved higher during Asian morning trading on Thursday amid healthy fundamentals.
The most-traded January tin contract price on the SHFE rose to 145,880 yuan ($21,295) per tonne at 9.59am Shanghai time, up 1,210 yuan per tonne from Wednesday’s close.
Check Metal Bulletin’s live futures report here.
Chinese export prices for aluminium ingot ADC 12 softened this past week due to the availability of cheaper material from Southeast Asia and Africa in the market.
Japan’s steel demand in July fell 2.9% on weaker demand from the construction and manufacturing segments, according to statistics released by the Japan Iron & Steel Federation (JISF) this week.
Crude steel production in Argentina grew by 9.1% year on year in August, according to figures released by national steel association Acero Argentino on Wednesday September 19.
Import prices for flat stainless steel in East Asia fell further over the past week due to the weak nickel segment and a lack of transactions amid sluggish regional demand.