EUROPEAN MORNING BRIEF 27/11: SHFE copper prices supported; new CCBI Metdist CEO; Logisminsa gets bonded warehouse approval

Good morning from Metal Bulletin’s office in Singapore, as we bring you the latest news and pricing stories on Monday November 27.

Copper prices on the Shanghai Futures Exchange were stronger during Asian morning trading on Monday, with the red metal finding support from declining stocks and ongoing industrial action in Peru and Chile.

Check Metal Bulletin’s live futures report here.

LME snapshot at 04:32am London time
Latest three-month LME Prices
  Price
($ per tonne)
Change since Friday’s close ($)
Copper 6,991 -11
Aluminium 2,120.50 -11.5
Lead 2,472.50 -7.5
Zinc 3,210 -25.5
Tin 19,470 -40
Nickel 11,890 -145

SHFE snapshot at 12:30pm Shanghai time
Most-traded SHFE contracts
  Price
(yuan per tonne)
Change since Friday’s close (yuan)
Copper (January) 54,290 -50
Aluminium (January) 14,990 -55
Zinc (January) 25,285 -300
Lead (January) 18,465 -55
Tin  (January) 143,110 -170
Nickel  (May) 95,610 -1,270

Andy Gooch is to become chief executive officer (CEO) of CCBI Metdist, taking over the reins from Nigel Dentoom, who will step down before the end of the year.

Peru’s first independent metal concentrates warehouse and blending facility is targeting growth and a new storage space for lead in 2018, senior consultant Victor Way said in an interview with Metal Bulletin.

Tao Peng, secretary general of the China Nonferrous Metals Industry Association Zinc and Lead Branch, identified five things to consider while reforming the supply side of the domestic zinc and lead industry.

China, the world’s largest producing and consuming country of lead, has room to improve its secondary lead industry, according to Wei Liu, deputy secretary general of the China Nonferrous Metals Industry Association Recycling Metal Branch.

Global steel billet prices have shown mixed dynamics over the past week, as an uptick in Turkish scrap prices dragged up CIS and Turkish billet prices, while Southeast Asian and United Arab Emirates billet prices were down due to poor sentiment.

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