The three-month nickel price on the London Metal Exchange closed lower on Thursday September 12, while considerable tightness in the metal’s forward spreads prompted questions in the market about prospective deliveries into LME warehouses to ease trading conditions.
The proposal by Hong Kong Exchanges & Clearing Ltd (HKEX) to buy the London Stock Exchange Group (LSEG) has raised a number of questions among metals market participants, most of whom are skeptical that the deal will go through during a time of political upheaval.
Sentiment in the European hot-rolled coil market was gloomy in the week ended September 12 due to low demand, sources told Fastmarkets.
Billet prices in Turkey have fallen sharply following a decrease in imported scrap values, sources said on Thursday.
Seaborne iron ore prices surged on Thursday due to support from Chinese steelmakers who were stocking up ahead of the week-long National Day holiday at the start of October.