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China’s export plate prices gained last week as mills raised their offers amid a stronger US dollar, but the market has been quiet this week ahead of the upcoming Lunar New Year holiday.
European aluminium premiums edged up this week despite the backwardation seen in nearby London Metal Exchange spreads, while rates in the United States declined to a near 23-month low amid quiet spot conditions.
Copper premiums were largely flat ahead of the Lunar New Year holiday in the main consumer territory of China. But premiums did make some small gains in Shanghai and a barrage of stocks begun to hit London Metal Exchange warehouses on Tuesday January 21.
South32 sold an indirect stake in fellow manganese producer United Manganese of Kalahari (UMK) for $93 million during the three months to December 31, 2019, both companies have confirmed.
High-carbon ferro-chrome spot import prices in Japan and South Korea largely shrugged off higher offers resulting from fresh strength in the domestic Indian ferro-chrome market.