North American Morning Brief: LME ali price pushes higher; YDD Corp to push Kazakhstan Ferro-Silicon op; Hebei Steel cuts Silico-Manganese purchase.Metalist
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Friday October 5, with aluminium bucking the trend.
The three-month aluminium price pushed closer toward $2,200 per tonne, while it continues to be supported by tight fundamentals and low stock levels.
For a snapshot of exchange news, check out our live futures report.
Kazakh company YDD Corp will start cold commissioning three furnaces at its new Karaganda ferro-silicon operation in Kazakhstan at the end of the year, according to its output distributor on the project, Swiss trading house Helvetia Resources.
The seaborne coking coal spot market ended the week on a quiet note amid thin trading, with the majority of participants away due to China’s Golden Week.
China’s largest steel mill, Hebei Steel, has cut its monthly purchase price for silico-manganese, partly reversing the increases in its tender prices for August and September.
US regulators may get powers to conduct oversight and investigate price-reporting and price-setting entities in the aluminium markets if recently introduced legislation becomes law.
Import prices for scrap in Taiwan continued to move up this past week on steady demand from steelmakers, while those in Vietnam held steady amid buyer resistance toward higher offers from the United States.