EUROPEAN MORNING BRIEF 08/11: SHFE base metals prices mixed on US mid-term elections; East Asia stainless steel prices down; Nickel premiums stable

Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Thursday November 8.

Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Thursday November 8, as the market took stock of the United States' mid-term election results and what it would mean for world economy going forward.

Check Fastmarket MB's live futures report here.



Import prices for stainless steel in East Asia continued to fall during the past week, with exporters reducing their offers further amid shrinking regional demand and the soft nickel segment.

Global nickel premiums were largely unchanged over the past week due to limited spot market activity, with market participants working to conclude long-term contract negotiations.

Chris Wibbelman has joined warehouse and logistics firm Istim Metals as its president, based in Detroit.

The tin premium in Europe softened from its highest level since January 2017 due to a market shift to longer-term supply solutions despite remaining elevated on Indonesian supply concerns, while both US and Chinese premiums held ground on steady spot business and sufficient supply.

The results of the mid-term elections to the United States Congress may have a palpable effect on aluminium prices globally, although what that effect may be was not immediately clear.

Karen Ng

karen.ng@metalbulletinasia.com

Published

Karen Ng

November 08, 2018

04:00 GMT

Singapore