Metals Industry News

The arbitrage for copper, aluminium, zinc and nickel imported into China on Friday August 10*

Key data from the Wednesday August 8 pricing session in Asia.

The latest metal markets news and price moves to start the North American day on Friday August 10.

The prices of base metals on the London Metal Exchange were lower across the board during morning trading on Friday August 10, capped by a fresh 2018 high in the dollar index while the escalating US-Sino trade rift continues to weigh on the complex.

Base metal stocks at Shanghai Futures Exchange-approved warehouses were on divergent paths on Friday August 10, with lead stocks seeing big gains but those of nickel and copper falling.

China imported 452,000 tonnes of unwrought copper and copper products in July, up from 390,000 tonnes a year earlier, according to preliminary Chinese customs data released on Wednesday August 8.

Good morning from Metal Bulletin’s offices in Asia as we bring you the latest news and pricing stories on Friday August 10.

Base metals prices on the Shanghai Futures Exchange were broadly lower during morning trading on Friday August 10 amid a stronger dollar and ongoing trade tensions between China and the United States.

The latest news and price moves to start the Asian day on Friday August 10.

Copper and brass scrap markets in the United States are in a state of flux, with market participants rapidly working to digest how China’s 25% blanket tariff on imports of recycled copper from the US will affect domestic pricing.

China’s threat to impose import taxes on US copper concentrates looms over the market for mined copper, leaving consumers and traders scrambling to swap cargoes scheduled for Chinese ports, sources directly involved in the trade told Metal Bulletin.

The price movements of base metals on the London Metal Exchange were mixed at the close of trading on Thursday August 9, typified by sharp drops in the prices of aluminium and nickel, while copper found support despite two consecutive days of stock inflows.

Teck Resources has received environmental approval for the expansion of its Quebrada Blanca copper mine in the Tarapacá region of northern Chile.

Comex copper prices hit a one-week high Thursday August 9 morning in the US amid a general technical increase across the base metals complex.

The latest metal markets news and price moves to start the North American day on Thursday August 9.

Aluminium prices on the London Metal Exchange climbed 0.5% during morning trading on Thursday August 9, elevating a buffeted complex following the light metal’s 3.2% surge at the close of trading on Wednesday.

The arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday August 9*

Three-month base metals prices on the London Metal Exchange were positively higher in the morning of Thursday August 9, with the complex up an average of 0.4%.

Import prices for stainless steel in East Asia kept largely steady over the past week, amid stable domestic demand in China and tepid regional demand.

Chinese exports of unwrought aluminium and aluminium products jumped by 13.6% year on year to 3.2 million tonnes from January to July, according to preliminary Chinese customs data released on Wednesday August 8.