ASIAN MORNING BRIEF 14/03: Lead logs biggest rebound on LME; early start to labor talks at Chilean copper mines may help mitigate supply risks, Antofagasta CEO says; cobalt prices gain further ground

The latest news and price moves to start the Asian day on Wednesday March 14.

Lead was the strongest performer on the London Metal Exchange on Tuesday March 13, closing 2.2% higher at the 5pm close. Read more in our live futures report.

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

Early starts to the multitude of labor negotiations due at Chilean copper mines this year could mitigate the risks to supply, Antofagasta chief executive officer Iván Arriagada said on Tuesday.

Low- and high-grade cobalt prices converged and continued to rise last week amid heightening tightness for broken cathode and sellers’ reluctance to offer spot inquiries.

The United Kingdom’s trade department has said it will work with industry to try to convince the United States to exempt British products from the Section 232 tariffs.

Despite the Chinese government’s better than expected 2018 subsidy policy on electric vehicles (EVs), the country’s domestic cobalt demand is likely to be subdued after a transitional period specified in the new policy expires in June, market participants told Metal Bulletin.

Traders in China are playing a key role in the continuing rally in manganese ore prices, nearly two weeks after end-users met to agree to a price ceiling, market sources told Metal Bulletin.

Shorter lead times, smaller volumes and less onerous financing arrangements have seen portside iron ore trading grow in popularity over the past three to four years.

What to read next
President Trump has threatened to double tariffs on Canadian steel and aluminium to 50%, potentially escalating tensions in US-Canada trade relations. If implemented, this move could have significant economic consequences and may prompt retaliatory actions from Canada. The article examines the potential implications of this tariff hike and its impact on the steel and aluminium industries, as well as the broader trade dynamics between the two nations.
Fastmarkets is launching assessments of the MB-AL-0407 aluminium P1020A premium, cif Mexico, and the MB-AL-0406 aluminium 6063 extrusion billet premium, cif Mexico, on Tuesday March 11, and will also launch an assessment of the MB-AL-0408 aluminium low-carbon differential P1020A, cif Mexico, on Tuesday March 25. After a consultation period, Fastmarkets is launching assessments of the three […]
This price is part of the Fastmarkets Scrap package. For more information on Fastmarkets North America Ferrous Scrap methodology and specifications please click here. To get in touch about access to this price assessment, please contact customer.success@fastmarkets.com.
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.