EUROPEAN MORNING BRIEF 27/11: SHFE base metals prices under pressure; EVs to grow battery market tenfold by 2025; SDI to build 3-mln-tpy flat-rolled mill

Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Tuesday November 27.

Base metals traded on the Shanghai Futures Exchange gave a mixed performance during Asian morning trading on Tuesday, with the complex contending with a firmer dollar index and persistent bearishness stemming from lingering concerns over the United States-China trade spat.

Check Fastmarket MB's live futures report here.

London Metal Exchange, base metals prices

Shanghai Futures Exchange, base metals prices

The global market for electric vehicle batteries in 2025 could be 10 times bigger than in 2018, according to a report by Swiss investment bank UBS published last week.

Steel Dynamics Inc (SDI) plans to spend nearly $2 billion to build a flat-rolled steel mill with electric-arc furnace in the southwestern United States to tap into the country's southern energy and construction markets as well as the Mexican flat-rolled market.

Creditors of Brazilian steel producer and distributor Aço Cearense earlier this month approved a plan for the company’s business recovery which included a restructuring of most of its debt.

Steel reinforcing bar prices in the US domestic and import markets were steady last week compared with two weeks earlier, with traders reporting more varied origins for imported product.

Global aluminium billet premiums have been mostly stable over the past month although the Italian billet premium range widened, reflecting offers there for material with many different origins.

Mia Aureus

mia.aureus@metalbulletinasia.com

Published

Mia Aureus

November 27, 2018

04:45 GMT

Singapore