Base metal prices on the Shanghai Futures Exchange were higher across the board during Asian morning trading on Wednesday December 20, with copper rising amid positive market sentiment.
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Premiums in South Korea, Taiwan and the United States inched higher
this week, while premiums in other regions were firm with outlooks mostly positive heading into 2018.
Metal Bulletin's weekly roundup of the state of base metal premiums on Tuesday December 19.
The US Midwest aluminium premium has inched up
this week on concerns about the effect wide-reaching tariffs - potentially stemming from the Section 232 investigation on primary aluminium imports into the United States - could have on downstream markets.
Both low-grade and high-grade manganese ore prices rose
in China against the backdrop of tighter silico-manganese supply in the country following news of production curbs in Ningxia province. That pushed European and Indian alloys prices higher, while in the United States ferro-manganese charges fell further.
Algeria will end
its import licensing system for all products, including steel rebar, in January 2018, according to domestic media reports on Tuesday December 19.
Brazilian flat steel sales increased
by 2.25% year on year in November, according to Brazilian flat steel association Inda.
Brazilian president Michel Temer has approved
a controversial bill to raise royalties on iron ore to 3.5% from a previous maximum of 2% despite criticism from the mining sector.