Base metals prices on the Shanghai Futures Exchange were up across the board during Asian morning trading on Thursday after the dollar weakened, with copper seeing additional support from short-covering.
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The global refined zinc market logged a modest surplus
in the first quarter due to rising inventories that have kept a lid on premiums for the metal, although market participants are expecting higher freight rates to spur a pickup.
Ta Chen International (TCI) will invest $1 billion in the aluminium market in the United States
in response to a growing supply deficit, the company’s top executive said.
Tharisa has acquired a 90% stake
in Salene Chrome Zimbabwe Ltd for an undisclosed sum, the South African chrome producer announced on Wednesday.
The stainless steel scrap market in the US stalled this week
, with prices for nickel, chrome and iron all largely holding steady.