NORTH AMERICAN MORNING BRIEF 22/05: LME copper price bouyed by Chinese demand; SHFE to open office in Singapore; global vanadium wrap
Date: May 23, 2018
The latest metal markets news and price moves to start the North American day on Tuesday May 22.
Base metals on the London Metal Exchange were a mixed picture during morning trading, with copper prices climbing 1% while zinc and tin edged lower.
Reaching a high of $6,959 per tonne over the morning, copper’s three-month price is edging towards the $7,000 per tonne support level.
The red metal’s recent price rise has been buoyed by strong demand from China, in addition to an easing of trade tension concerns after the United States and China’s most recent talks avoided further tariffs.
Here is how the LME base metals complex looked at 11.42am London time:
For a snapshot of exchange news, check out our live futures report.
Chinese vanadium export prices continued to register declines after exporters lowered their offers in order to drum up buying interest, while European vanadium prices again followed the downtrend in the Chinese market.
