ASIAN MORNING BRIEF 20/06: LME base metals sink; BHP to sell Cerro Colorado copper mine to EMR Capital; UC Rusal exporting bauxite from Dian-Dian mine
The latest news and price moves to start the Asian day on Wednesday June 20.
Base metals on the London Metal Exchange ended trading broadly lower on Tuesday June 19, led by a 2.2% drop in aluminium prices, while nickel and zinc's three-month prices dipped 2.1%. Read more here in our live futures report.Here is how prices looked at the close of trading:
BHP has agreed to sell its Cerro Colorado copper mine to Australian private equity fund EMR Capital for an initial $230 million in cash, the company said.
Meanwhile, UC Rusal has started to export bauxite mined at Dian-Dian in Guinea's Bok?(C) province.
Production curtailments at major Chinese producer Ningxia Tianyuan will continue to support the manganese flake and ferro-chrome markets, market participants have told Metal Bulletin.
The recent uptrend in prices persisted across the Chinese, European and United States' vanadium markets, owing to low availability. Read more in our Global Vanadium Wrap.
Chile's National Economic Prosecutor's Office (FNE) is investigating the sale of a 24% stake in SQM, the country's largest lithium producer, to Chinese miner Tianqi.
Pilbara Minerals has made the first shipment of direct shipping ore (DSO) from its wholly owned Pilgangoora lithium-tantalum project in Australia.
And Norway has joined a growing list of countries requesting dispute consultations with the US at the World Trade Organization, regarding duties on certain imported steel and aluminium products.