EUROPEAN MORNING BRIEF 27/06: US Midwest aluminium premium falls to nearly 3-month low; surge in US copper cathode premium pauses; Tshipi exceeding Mn ore production targets

Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday June 27.

Base metals prices on the Shanghai Futures Exchange remained under pressure from simmering global trade tensions as well as a firm dollar during Asian morning trading on Wednesday, but the complex has benefited from a slight improvement in risk sentiment overnight with most prices edging upward.

Copper was the exception, however, with its prices weakening - albeit marginally.

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The US Midwest aluminium premium has retreated to a level last seen in late March to early April, before the effect of sanctions against Russia set into the market.

The copper cathode premium's ascent in the United States paused over the past week, with the market struggling with a major arbitrage and nightmarish freight conditions.

South African manganese miner Tshipi has been exceeding its production targets and ensuring it has adequate stockpiles to take advantage of high manganese ore prices.

There have been more deals for third-quarter cif main Japanese ports aluminium supply agreed at a premium of $132 per tonne between several buyers and more than one producers, sources involved in the quarterly negotiations said on Tuesday June 26.

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