The China Nonferrous Metals Industry Association Antimony Branch (CAA) held an industry meeting calling for major producers to reduce output in an effort to halt the price decline seen since the start of the year, market sources told Fastmarkets.
The London Metal Exchange’s zinc price rose in morning trading on Tuesday June 6 after 15,050 tonnes of exchange stocks were canceled. The cancellations, which will take metal out of Rotterdam warehouses, mean total LME on-warrant stocks have fallen by 16%.
The bullish run in China’s alumina price may end in July due to smaller than expected alumina production cuts in Xinfa Group’s alumina refineries and easing tightness once more imported cargoes arrive, sources told Fastmarkets on May 30.
South Korean steel majors Posco and Hyundai Steel have both been asked by provincial governments to idle their blast furnaces due to pollution levels, market sources told Fastmarkets MB on June 4.
European steelmakers have called for the region’s policy-makers to take immediate action to strengthen safeguard measures for the steel industry effective July 1.