Base metal prices on the London Metal Exchange were largely lower at the close of trading on Wednesday August 29, pressured by investor uncertainty over trade relations between the United States and China while positive second-quarter gross domestic product growth indicated strength in the US economy. Read more in our live futures report
Here are how prices looked at the close of trading:
Consumer demand and regulatory requirements
are increasingly driving the responsible production and sustainability of aluminium, a senior executive at Rio Tinto Aluminium said.
Ratings agency Moody’s has lowered its credit rating
for Turkish steelmaker Erdemir Group to Ba3 from Ba2, describing its outlook as negative.
Iran's prices for exported billet have decreased
by $10-15 per tonne for the week ended August 29 due to reduced interest in Iranian material caused by economic sanctions introduced by the US against the country in early August.
Prices for domestic hollow steel sections
produced and delivered in northern Europe increased by €10 per tonne on the upper end of the range this week.