ASIAN MORNING BRIEF 23/02: Most base metals caught in sell-off on LME; Wieland-Werke to acquire Aurubis rolled products division; zinc concentrate market at ‘turning point’ this year, Nyrstar says

The latest news and price moves to start the Asian day on Friday February 23.

Most base metals retreated on the London Metal Exchange on Thursday February 22, with the complex caught in a sell-off. Read more in our live futures report.

Here are how LME prices looked at Thursday’s close:

Wieland-Werke plans to acquire Aurubis’ rolled-products division later this year, which is intended to kickstart the company’s growth in the US and Asian markets, it said.

Nyrstar said that the zinc concentrate market is at a “turning point”  this year, with the company’s zinc metal and mined zinc output expected to rise in 2018.

Spot prices for European molybdic oxide and ferro-molybdenum rose this week despite the China’s absence from the spot market.

Kaz Minerals more than doubled its underlying profit in 2017 versus the previous year due to strong copper sales.

The announcement of possible remedies proposed by the Section 232 report in the United States has elicited protests from US steel tube and pipe consumers, who claim that supply uncertainty will stifle investment and employment.

French tube and pipe producer Vallourec sees favorable market conditions in the US and Brazil in 2018, with the former enjoying an increasing level of oil and gas activity.

Global earnings for steel tube and pipe producer Tenaris jumped 85% in the fourth quarter due to higher sales compared with the same period a year earlier.

What to read next
The publication of Fastmarkets’ nickel sulfate, in-whs Rotterdam assessment for Friday March 7 was delayed because of a reporter error. Fastmarkets’ pricing database has been updated.
The publication of the affected prices was delayed for 31 minutes.  The following assessments were published late: MB-AL-0300 Aluminium 6063 extrusion billet premium, ddp Italy (Brescia region), $ per tonne MB-AL-0302 Aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region), $ per tonne These prices are a part of the Fastmarkets aluminium billet North Europe package. […]
The US-Ukraine mineral partnership deal has stalled due to security concerns, leaving future negotiations uncertain despite Ukraine's critical role in global mineral supplies. Meanwhile, President Trump has imposed tariffs on Canada, Mexico, and China and launched a copper import investigation to address national security risks and reduce reliance on foreign resources.
Trump’s tariffs on Canadian and Mexican metals have introduced significant instability to the U.S. metals sector. The 25% tariffs, coupled with retaliatory measures from Canada and Mexico, have fuelled price volatility, supply chain disruptions, and operational uncertainty across multiple industries. These trade policies are reshaping global market dynamics as stakeholders brace for long-term impacts on steel, aluminium, copper, and other metal commodities.
The following prices were affected:MB-CU-0361 Copper import arbitrage, $ per tonneMB-CU-0362 Copper import arbitrage, yuan per tonneMB-NI-0106 Nickel import arbitrage, $ per tonneMB-NI-0107 Nickel import arbitrage, yuan per tonneMB-ZN-0083 Zinc import arbitrage, $ per tonneMB-ZN-0084 Zinc import arbitrage, yuan per tonneMB-AL-0289 Aluminium import arbitrage, $ per tonneMB-AL-0290 Aluminium import arbitrage, yuan per tonne These prices are part of the Fastmarkets base metals package. […]
Presenters shared insights into zinc market dynamics at the International Zinc Association’s (IZA) International Zinc and Zinc Oxide conference held February 23-26 in San Diego.