ASIAN MORNING BRIEF 19/06: Nickel slides in mixed LME trading; US trucking industry poses problems for copper; South32 to acquire rest of junior zinc miner

The latest news and price moves to start the Asian day on Tuesday June 19.

Nickel prices on the London Metal Exchange fell on Monday June 18, closing below $15,000 per tonne for the first time since May 29, pressured by a strong dollar index and low trading volumes across the complex. Read more in our live futures report.

Here are how prices looked at the close of trading:


Common themes throughout the economy in the United States are high and rising transportation and logistics costs. Those problems have been acute for the copper industry, leading to ever-rising premiums and questions on when the issue will be mitigated.

South32 will acquire the remaining 83% stake in junior zinc miner Arizona Mining for $1.3 billion in cash, the company said on June 18.

Rio Tinto maintains its iron ore shipment guidance at 330-340 million tonnes for 2018, the miner said during an investor address in Perth, Australia, on Monday while it underlined robust demand for high-grade iron ore from China.

Anton Posner and Margo Brock have set up a new logistics company, Mercury Resources, with a focus on global ocean freight and US-based metals warehousing operations, Metal Bulletin learned on Monday.

Imports of various carbon and stainless steel products from China pose a "real risk" to Taiwan's domestic steel industry, according to a preliminary ruling by the territory's Ministry of Economic Affairs.

G?(C)camines will invite all of its joint-venture partners to discuss the terms and conditions of their mining contracts with the company in an effort to restructure them, the chairman of the Congolese state-run company said.

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