(MB) Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Tuesday, after the reality of escalating trade tensions between China and United States began to stifle the positive sentiment brought by strong Chinese data released early this week. The Chinese ferro-silicon market has dropped in the week to Friday September 7 ahead of the imminent arrival of new cargoes of alloy and expected winter steel production cut, while the price spread has widened in Europe amid illiquid trading conditions. The spot price for grade-553 silicon in the United States has continued to tumble, falling for a sixth consecutive month in American Metal Market’s latest assessment, due to scrap metal-derived silicon supply piling up and buyers remaining disinterested in spot volumes. Imported UG2 ore prices rose on September 7 while charge chrome quotations remained stable and China’s domestic spot alloy price slipped in Metal Bulletin’s latest pricing sessions. Turkish domestic scrap prices have continued to climb over the past week, due to firm demand for the material, sources said on Monday. The Turkish steel producers were inactive in the deep-sea scrap market at the start of this week because they were digesting the latest transactions, sources said on Monday.
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