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The metals and mining markets are constantly changing. Stay connected to the stories driving change across the global metals markets, including the lasting effect of Russia’s invasion of Ukraine, energy price hikes, trade flow disruptions and the pull of decarbonization targets.
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The launch of a high-grade iron ore derivative by the Singapore Exchange last week represents a “leap forward for the [ferrous] industry, particularly those that are exposed to the high-grade product,” according to Andrew Glass, head of iron ore trading at Anglo American.
Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Wednesday December 12, with average gains of 0.3%. This after the complex climbed by an average of 0.4% on Tuesday, which followed Monday’s test of support levels – that held.
Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Wednesday December 12.
Base metal prices, barring those for aluminium, on the Shanghai Futures Exchange were up across the board during Asian morning trading on Wednesday December 12, with the complex continuing to find support from positive trade headlines.
The latest news and price moves to start the Asian day on Wednesday December 12.
Saudi Arabia has not imported rebar in 2018 and cannot utilize its full production capacity due to weak domestic demand, Ahmed Al-Hussain, rebar director of Saudi National Committee for Steel Industry said at Fastmarkets MB’s Middle East Iron and Steel Conference in Dubai on Tuesday December 11.
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