EUROPEAN MORNING BRIEF 23/10: Chrome ore prices recover; Europe APT price edges up; global antimony prices under pressure
Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Tuesday October 23.
Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Tuesday amid a firmer dollar and ongoing trade tensions, with only tin prices recording significant gains.
Check Fastmarket MB’s live futures report here.
Prices for China-origin UG2 chrome ore and Turkish lumpy chrome ore rose over the trading session on Friday October 19, while Chinese domestic ferro-chrome spot prices fell slightly on weak demand from stainless steel mills.
The ammonium paratungstate (APT) price edged up in Europe at the end of last week, credited to a pick-up in spot activity and amid talks of another round of environmental inspections in China that could take supply out of the market.
Global antimony prices were under pressure last week, falling both in China and Europe, following on from continued weak demand for the metal.
Steel billet prices in major global markets resumed their downtrend or remained stable during the week from Monday October 15 to Friday October 19, with few deals concluded and importers generally staying out of the market.
Brazilian polymetallic producer Nexa Resources is expected to begin construction on its Aripuanã project in the state of Mato Grosso, in Brazil’s midwestern region, after the company’s board of directors approved the start-up on Friday October 19.