By Anna Xu / May 30, 2018 / www.metalbulletin.com /
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Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday May 30.
Copper prices on the Shanghai Futures Exchange fell during Asian morning trading on Wednesday, reversing the gains seen on Tuesday, with the red metal's prices coming under pressure from a strengthening dollar.
Check Metal Bulletin's live futures report
here.
| LME snapshot at 03.51am London time |
| Latest three-month LME Prices |
| | Price ($ per tonne) | Change since yesterday's close ($) |
| Copper | 6,812 | -48 |
| Aluminium | 2,266.50 | -8.5 |
| Lead | 2,431.50 | -15.5 |
| Zinc | 3,075.50 | -13.5 |
| Tin | 20,605 | 180 |
| Nickel | 14,865 | -40 |
| SHFE snapshot at 10.50am Shanghai time |
| Most-traded SHFE contracts |
| | Price (yuan per tonne) | Change since yesterday's close (yuan) |
| Copper | 51,210 | -500 |
| Aluminium | 14,715 | -10 |
| Zinc | 24,005 | -105 |
| Lead | 19,835 | -230 |
| Tin | 154,700 | 30 |
| Nickel | 111,890 | -990 |
The US Midwest aluminium premium
has slipped again despite the looming deadline for temporary Section 232 exemptions that President Donald Trump established - and later extended - for certain countries and regions.
Chinese vanadium exporters
held prices steady last week amid sluggish trading activity, while European ferro-vanadium prices bounced back due to tightening inventories.
The Brazilian flat steel distribution sector
has reduced its deliveries to only 10% of the usual average this week due to a nationwide truck-driver strike.
Plate prices in the United States
remained flat as lead times stretch into the typically slower summer months ahead of a key Section 232 deadline.
US domestic and import merchant bar prices are staying put as market participants await the Trump administration's next decision on the Section 232 tariffs on June 1.