EUROPEAN MORNING BRIEF 31/12: LME base metals up on trade developments; China’s grade-553 silicon price flat; Chinese black tungsten conc price continues decline

Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Monday December 31.

Base metals prices on the London Metal Exchange were all up during Asian morning trading on Monday amid renewed optimism in the market after US President Donald Trump reported “big progress” in trade talks with his Chinese counterpart, Xi Jinping.

Check Fastmarkets MB's live futures report here.

London Metal Exchange, base metals prices

The fob China grade-553 silicon price was unchanged in the week ended December 28 amid thin inquiries and trades.

The black tungsten concentrate price in China continued to fall in the week to December 26, while the Chinese ammonium paratungstate and ferro-tungsten prices were flat week on week amid thin enquiries.

Indian domestic secondary billet prices rose by at least 600 rupees ($9) per tonne last week on sustained buying by long product makers and improved trading
 
Global ferrous scrap prices were mostly little-changed during the week ended Friday December 28 due to illiquid spot trading.

Ellie Wang

ellie.wang@fastmarkets.com

Published

Ellie Wang

December 31, 2018

04:25 GMT

Shanghai