Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday November 7.Base metals prices on the Shanghai Futures Exchange were down across the board during Asian trading hours, as skepticism once again washed over previous positive sentiment brought by Chinese President Xi Jinping's promise to open the country's economy to the world.Che...Read More

Chris Wibbelman has joined warehouse and logistics firm Istim Metals as its president, based in Detroit. He will report into Istim Metals chief executive officer Michael Whelan and will be responsible for global strategy and development. The move reunites Wibbelman with Michael and Bill Whelan, with the latter being the co-founder of warehousing and...Read More

Long-term contracts for cobalt hydroxide supply in 2019 have been heavily weighted toward lower payables year on year, with discussions centered around increasing availability of intermediates. But the extent of the likely hydroxide surplus' impact on next year's metal market is less clear. Since last year's mating season, Glencore has announced the restart of production at Katanga in the Dem...Read More

Aluminium and nickel prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories fail to boost the metal's price. The three-month aluminium price reached an intraday high of $1,993.50 per tonne and remains the top performer. More than 11,900 lots changed hands by the close, more than copper's 11,700 lots.The three-month nickel reached an intraday...Read More

Comex copper prices inched higher during morning trading in the US on Wednesday November 7 with a persistently softer dollar lending support amid a lack of other market catalysts. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents to $2.74 per lb. "In the broader macroeconomic environment, downside price risks are likely...Read More

Base metals on the London Metal Exchange pushed higher during morning trading on Wednesday November 7, supported by a strong bounce in global equity markets, while the US dollar index lost ground after gains by the Democrats in the US midterm elections. Overnight, US midterm election results indicated a majority win for the Democrats in the House of Representatives, with US president Trump's admin...Read More

* OPEC, non-OPEC panel to meet on Sunday* U.S. oil stocks swell, output at record levels -EIA* U.S. grants Iran's biggest customers sanction exemptions* Iran's crude, condensate exports: https://tmsnrt.rs/2PMqQgS (Updates with settlement prices, quotes)By David GaffenNEW YORK, Nov 7 (Reuters) - Oil prices slipped on Wednesday, continuing a recent slide after surging U.S. crude output hit another r...Read More

Investing.com - U.S. crude prices turned negative after American crude oil inventories rose more than expected and output also jumped, increasing concerns over global supply.The EIA data showed that crude oil inventories increased by 5.783 million barrels in the week to Nov. 2.That was compared to forecasts for a stockpile build of just 2.433 million barrels, after a rise of 3.217 million barrels...Read More

Investing.com - Gold prices moved higher on Wednesday as midterm elections created a divided U.S. Congress, pushing the dollar lower.At 9:56 AM ET (14:56 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange gained $5.40, or 0.44%, to $1,229.20 a troy ounce.Meanwhile, the?EUR?U.S. U.S. dollar index, which tracks the greenback against a basket of six maj...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday November 7, with market participants becoming increasingly concerned over the state of the EU's import quotas.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe were ?,?535-560 ($611-639) per tonne delivered on Wednesday...Read More

Chris Wibbelman has joined warehouse and logistics firm Istim Metals as its president, based in Detroit. He will report into Istim Metals chief executive officer Michael Whelan and will be responsible for global strategy and development. The move reunites Wibbelman with Michael and Bill Whelan, with the latter being the co-founder of warehousing and...Read More

The tin premium in Europe softened from its highest level since January 2017 due to a market shift to longer-term supply solutions despite remaining elevated on Indonesian supply concerns, while both US and Chinese premiums held ground on steady spot business and sufficient supply. European premiums ease while market finds supply solutions  US participants look to 2019 contracts  China'...Read More

Fasmarkets' fob Australia alumina index declined for the eighth trading day in a row on Wednesday October 7, falling back to levels not seen since before Hydro declared force majeure at the Alunorte refinery in Brazil in April. The benchmark daily fob Australia alumina index was calculated at $428.75 per tonne on Wednesday, down from $430 per tonne on Tuesday and 8.98% lower week on week from...Read More

The results of the mid-term elections to the United States Congress may have a palpable effect on aluminium prices globally, although what that effect may be was not immediately clear.As of 8am US Eastern Standard Time on Wednesday November 7, the Democratic Party had won 219 seats in the government's lower House of Representatives, achieving a majority for their party for the first time since 201...Read More

Comex copper prices inched higher during morning trading in the US on Wednesday November 7 with a persistently softer dollar lending support amid a lack of other market catalysts. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents to $2.74 per lb. "In the broader macroeconomic environment, downside price risks are likely...Read More

The premium for special high grade (SHG) zinc ingots in northern Europe has rebounded from an eight-year low this week on reduced warehouse stocks, while secondary lead premiums dropped in India and Southeast Asia after more units were available due to the absence from the market of a large commodity house. European zinc premium rises from 8-year low. Long term zinc and lead contract talks i...Read More

The Lead REACH Consortium has signed a co-operation deal with the European Chemicals Agency (ECHA), designed to speed up and improve the information available on registered substances and allow regulators to make faster, better-informed decisions.The agreement comes as the lead industry waits to see whether four chemical compounds that are irreplaceable in the production of lead batteries will be...Read More

DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftBezant's Mankayan back in copper-gold spotlightSPONSOREDbezant resourcesKyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalGolden Mile has the right stuff: ReynoldsSPONSOREDgolden mile resources The company said this week its 18-month assessment of what it called "best...Read More

The latest news and price moves to start the Asian day on Thursday November 8.Aluminium prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories failed to boost the metal's price. Read more in our live futures report.Here are how prices looked at the close of trading.The latest round of sanctions imposed by the United States on November 5...Read More