(FM) Most base metals prices on the Shanghai Futures Exchange fell during Asian trading hours on Monday November 5, as buoyant hopes last week over a possible resolution to the ongoing trade war between the United States and China were punctured by White House economic adviser Larry Kudlow stating a deal was not imminent. For one week next week, Shanghai, China’s economic center, will become the center of the global copper industry – representatives from miners, consumers, banks and brokers will convene for the annual Cesco Week. It has been a bearish week for ferro-chrome in China and Europe. China’s domestic spot battery-grade lithium carbonate prices stabilized this week, after last week’s producer hikes brought an end to a year-long downturn. A massive backwardation on copper forward price spreads on the London Metal Exchange has collapsed after market tightness was eased by a delivery of 44,950 tonnes of metal into exchange sheds, Fastmarkets heard on Friday November 2. South Korea’s Public Procurement Service (PPS) has floated two tenders for the procurement of a total of 150 tonnes of nickel, according to a notice posted on its website.
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