Base metal prices on the Shanghai Futures Exchange were up across the board during Asian morning trading on Monday, supported by a retreat at the dollar following dovish rhetoric from the US Federal Reserve towards the end of a week ago. At 96.44 as at 10.02am Shanghai time, the dollar continued to edge lower this morning following weakness last Friday. The US currency endured a bout of promoting following dovish comments from Federal Reserve officials that seemed to question the appropriateness of a rise in US rates of interest next month.
Check Fastmarket MB’s live futures here. Nespresso will become the first company to use responsibly-sourced aluminium, supplied by Rio Tinto, to produce its coffee capsules, signaling yet another sign of customer-driven requirement for products.
European flake prices continued to drop a week ago amid demand. See our latest minor metals marketplace report here. Hot-rolled coil costs in the US have dropped below $40 per hundredweight for the very first time because President Donald Trump announced the Section 232 tariffs over eight months back. And in case you missed this, Astor Management, a private company based in Switzerland, plans to pursue European copper producer Atalaya Mining in the United Kingdom Supreme Court for $18 million in so-called “uptick obligations ”, the Korean company said on Nov 15. Anna Xu anna.xu@metalbulletinasia.com Atalaya Mining Related news LIVE FUTURES REPORT 19/11: Dollar retreat supporting SHFE base metals costs 19 Nov 18 METALS MORNING VIEW 15/11: Metals prices rally following dollar pulls back 15 Nov 18 NORTH AMERICAN MORNING BRIEF 13/11: LME base metals prices regain; Section 232 not afflicting US Al smelters, GCC producers; ore, alloy costs weaken 13 Nov 18 EUROPEAN MORNING BRIEF 14/11: SHFE base metals prices slide on China information; participants eyeing higher copper premium in 2019 14 Nov 18 NORTH AMERICAN MORNING BRIEF 14/11: China aluminum demand/supply outlook; US up copper premiums; zinc under pressure 14 Nov 18 LIVE FUTURES REPORT 14/11: SHFE base metals costs all down following China information; nickel leads the decline.MORNING BRIEFS.EUROPEAN MORNING BRIEF 19/11: Weak dollar affirms SHFE base metals prices; Nespresso to utilize responsibly-sourced Al out of Rio Tinto; European Mn flake cost drops NORTH AMERICAN MORNING BRIEF 16/11: Southeast Asian steel billet import costs fall; SGX to start high-grade iron ore derivatives EUROPEAN MORNING BRIEF 16/11: SHFE zinc prices gain on tight supply; aluminum scrap availability in China not a cause of concern; shortage in zinc market stays ASIAN MORNING BRIEF 16/11 price rallies on LME despite stocks; Jiangxi Copper, Antofagasta concur to 2019 TC/RC terms; Chinese nickel investment May Not rapidly ease supply
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