Base metals prices on the Shanghai Futures Exchange were generally up during Asian morning trading on Thursday, with the complex continuing to benefit from easing concerns surrounding global trade tensions. Steel and Aluminium purchasers in the United States who feel cheated by the Section 232 tariffs should take the matter up with President Donald Trump, who likely would be sympathetic, according to a trade attorney who represents domestic producers. CVG Venalum has halted at least one shipment to a US-based customer while the company deals with allegations that its senior management was involved in a money-laundering and drug trafficking scheme using the plant as cover, a person familiar with the matter told Metal Bulletin. China’s crude stainless steel capacity is expected to increase by 7.5 million tonnes per year to 44-45 million tpy by 2020, although there is some pessimism about mills’ utilization rates, according to Zhang Zhifang, chairman of Chinese producer Taiyuan Iron & Steel. Selenium prices in Europe continue to fall over the past week, while weak demand weighed on antimony prices. Check our latest minor metals market report here.
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