EUROPEAN MORNING BRIEF 21/02: US aluminium premiums rise further; Truck woes hit US copper users; Brazil crude steel output

Base metals on the LME were generally lower during Asian morning trading on Wednesday February 21, amid a lack of liquidity with the Chinese markets still closed.

Check Metal Bulletin’s live futures report here.

See the Global Aluminium Wrap for aluminium premiums across the world for the week to Tuesday February 20.

The US Midwest aluminium premium ticked up over the past week, following the US Department of Commerce confirming its three recommendations for President Donald Trump in the Section 232 investigation concerning aluminium imports into the United States.

The copper market in the United States is facing similar headwinds as the rest of the metals complex, with rising trucking costs playing a larger role than in previous years.

Crude steel production in Brazil increased by 1.30% year on year in January, according to figures released by national steel institute Aço Brasil on Tuesday February 20.

Argentinian steelmaker Ternium Siderar saw net profits drop by 10.12% in the fourth quarter of 2017, compared with the same period a year earlier, due to currency effects and higher costs.

See here for the summary of base metals premiums across the globe for the week to Tuesday February 20.