Aluminium prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories failed to boost the metal’s price. Read more in our live futures report
Here are how prices looked at the close of trading.
The latest round of sanctions imposed by the United States
on November 5 is expected to cut Iranian steel exports further, gradually leading to lower Iranian steel output, market sources believe.
The aluminium import arbitrage
between the US and Asia narrowed for the second month in a row in October due a softer US Midwest premium and high ocean freight costs.
European prices for mesh-quality wire rod
were flat across the northern and southern parts of the continent on Wednesday, with market participants becoming increasingly concerned over the state of the European Union’s import quotas.
The price for rebar
produced and delivered in northern Europe rebounded at the low end of the range in the week to Wednesday, with sellers rejecting any further push for lower prices due to high scrap prices.
The Lead Reach Consortium signed a cooperation deal
with the European Chemicals Agency designed to speed up and improve the information available on registered substances and allow regulators to make faster, better-informed decisions.
Latin American steel association Alacero appointed Máximo Vedoya
as its new president on Wednesday.