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.

London Metal Exchange, base metals prices

Shanghai Futures Exchange, base metals prices

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.

What to read next
Fastmarkets invited feedback from the industry on the pricing methodology for its MB-STE-0939 steel scrap HMS 1&2 index, domestic composite, delivered Saudi Arabia assessment, as part of its annual methodology review process.
The publication of Fastmarkets’ European steel beams and sections assessments for Wednesday April 15 was delayed due to a reporter error. Fastmarkets’ pricing database has been updated.
Fastmarkets has launched a suite broker/processor and ex-works prices to service the domestic and export Mexican stainless steel scrap markets respectively.
Fastmarkets has decided to make changes and clarifications to its methodologies for nickel cobalt manganese (NCM) black mass price assessments, including name changes, to bring them into closer alignment with current spot market specifications.
An interview in which Andrea Hotter spoke with Jon Stibbs, managing editor for technology and energy metals, to explore a growing concern for global defense supply chains.
Fastmarkets invited feedback from the industry on the pricing methodology for its steel reinforcing bar (rebar), domestic, delivered Saudi Arabia price, as part of its annual methodology review process.