(MB) Base metals prices on the Shanghai Futures Exchange were broadly higher during Asian morning trading on Wednesday, with the complex largely shrugging off an escalation in trade tensions between China and the United States. Fresh concerns about the impact of the escalating US-China trade war have unsettled minor metals and ferro-alloys markets after the United States announced it is imposing new tariffs on $200 billion worth of Chinese goods.
Global uncertainty about the US sanctions on Russian aluminium producer Rusal continued to limit the liquidity in the aluminium markets over the week ended Tuesday, with premiums mostly unchanged across Europe and Asia, and in the US.
Metal Bulletin presents four key things learned at its sixth Asian Nickel Conference held in the Indonesian capital of Jakarta on September 12-13.
The premium for spot copper cathodes rose above $100 per tonne in Shanghai for the first time in three years, with rates supported by the wide profit margins on importing the red metal into China. Check out Metal Bulletin’s latest global copper wrap for more details.
Chinese plate exporters are lowering prices in a bid to win orders as global demand weakens, Metal Bulletin heard on Tuesday September 18.
Export prices for China-origin cold-rolled coil and hot-dipped galvanized coil fell over the past week due to persistently sluggish trading, soft overseas demand and weaker domestic sales.