EUROPEAN MORNING BRIEF 28/09: SHFE base metals mixed; US brass, copper scrap prices up on rising foreign demand; NFEx to be liquidated

Good morning from Metal Bulletin’s offices in Asia as we bring you the latest news and pricing stories on Friday September 28.

Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Friday, with the complex coming under pressure from a combination of a firmer dollar and traders winding down their positions ahead of the start of the fourth quarter.

Check Metal Bulletin’s live futures report here.

Brass and copper scrap markets in the United States are being squeezed by rising overseas competition that has pushed some red metal scrap prices higher.

Non-Ferrous Exchange Markets (NFEx Markets) will be liquidated following a petition to wind up the company, according to official public records.

China’s Ganfeng Lithium will invest in its Mahong plant to increase production to 25,000 tonnes per year of battery-grade lithium hydroxide, it said on Tuesday.

Austrian special steelmaker Voestalpine has restarted blast furnace A at its site in Linz, Northern Austria, it said on Thursday.

Steel wire rod prices in the US were flat over the past two weeks, with supply and demand dynamics unchanged partly due to few import offers in the market.