Base metals prices on the Shanghai Futures Exchange registered gains across the board during Asian morning trading on Monday, following the release of better-than-expected trade data from China over the weekend despite deteriorating relations with the United States.
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The US Midwest aluminium premium widened at the low end of its assessed range last Friday
, amid talk of discounts because of falling scrap prices.
Prices for cif China UG2 chrome ore rose again last week
following the prior week’s recovery to $158 per tonne owing to resistance from overseas miners and price increases for Chinese domestic ore.
Lackluster demand for steel billet kept global prices largely stable or down
in what was slow trading during the week from Monday September 3 to Friday September 7, with many importers snubbing higher offers.
Prices of South Korean origin hot-rolled-coil exports to India have fallen by about $30 per tonne
, as a consortium of importers this week booked 20,000 tonnes of HRC at $620-625 per tonne cfr Mumbai for shipment in October.
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