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Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Monday, with the main movers being zinc and nickel, albeit in opposite directions, while the rest of the metals traded sideways.
Nickel prices led on the upside with the metal finding support from declining exchange inventories – indicating healthy consumption – and the expectation of greater demand in line with the development of the electric vehicle sector.
Check Metal Bulletin’s live futures report here.
US President Donald Trump warned that the European Union could be hit with 20% tariffs on EU-built automobiles in retaliation for EU tariffs that took effect on June 22.
The Pasar copper smelter in the Philippines is expected to operate at a reduced capacity during the second half of the year while the company makes repairs to its sulfuric acid cooling plant, Metal Bulletin has learned.
Ferro-chrome benchmark price negotiations for the third quarter of 2018 are revealing a fresh spin on some familiar topics and a more detailed look at regional price differences across the supply chain.
India is proposing increases for import duties on 30 products from the US including certain steel goods, in a tit-for-tat move against the latter’s Section 232 tariffs on steel and aluminum.
A few deals for cif main Japanese ports aluminium premiums for July-September delivery have been done at $132 per tonne by one major producer with buyers, according to four sources familiar with the matter.
The US Midwest aluminium premium was unchanged in quiet spot trading after offers generally stood firm amid uncertainty about prices.