By Kirk Maltais / August 03, 2018 / www.metalbulletin.com /
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The latest news and price moves to start the Asian day on Friday August 3.
Base metals prices on the London Metal Exchange posted split moves at the close of trading on Thursday August 2, with half of the complex ending lower amid pressure from the re-emergence of trade tensions between the United States and China in addition to a seasonal summer slowdown. Read more in our
live futures report.
Here are how prices looked at the close of trading:
Record-low aluminium stocks in LME warehouses have left spreads vulnerable to increased volatility and more backwardations.
The European Commission (EC) is now investigating German copper giant Aurubis' proposed sale
of its rolled-copper products business to Wieland-Werke due to competition concerns.
Five companies under major Japanese steelmaker
Nippon Steel & Sumitomo Metal Corp will integrate and reorganize their welded stainless steel pipe and tube businesses.
Merger and acquisition activity in the battery metals sector has
begun to accelerate, with companies looking to capitalize on future demand for electric vehicles.
Brazilian steelmaker Gerdau has
concluded the sale of two hydroelectric plants to mining company Kinross Brasil Minera????o for $222 million.
Spain-based stainless steel producer Acerinox has said that
the company is encouraged by the safeguarding measures announced by the EC last month.
Nornickel has
submitted an appeal against a Botswanan ruling made in June 2018, designed to prevent the company from defending itself in the London Court of International Arbitration.