EUROPEAN MORNING BRIEF 23/11: Soft dollar supports most SHFE base metals; first Alufer Mining bauxite shipment arrives in China; Brazil’s flat steel sales up slightly in Oct
Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Friday November 23.
Base metals prices on the Shanghai Futures Exchange were broadly up during Asian morning trading on Friday, with the complex benefitting from a slightly weaker dollar. Tin and nickel fell however, with the former coming under pressure from fears over slowing demand and a build-up in exchange stocks.
Check Fastmarket MB’s live futures report here.
Alufer Mining’s first shipment of bauxite from its Bel Air project in Guinea has arrived in China, the company said on Thursday.
Flat steel sales volumes from distributors in Brazil increased slightly year on year in October 2018, amid stable domestic prices, local flat steel association Inda has said.
Domestic prices for hot-rolled coil in the European Union have remained under pressure from slow buying activity in the past week, sources told Fastmarkets on Thursday.