Metals Industry News

The London Metal Exchange has imposed a series of temporary measures to maintain an orderly copper market after wild outright and spread price moves and dwindling inventories in recent days, the exchange said.

Novelis will invest approximately $130 million to upgrade its operations in Oswego, New York, the global aluminum rolling and recycling firm said in a press release on October 18.

From supply chain disruptions to London Metal Exchange spreads, aluminium market participants discussed a wide variety of topics during LME Week, and what they could mean for the market in the months ahead.

Base metals on the London Metal Exchange closed lower day on day on Tuesday October 19 after a strong open.

The Russian government has removed or reduced existing export duties on ferro-alloys, effective October 15, after responding to domestic industry concerns, trade sources said.

Digitalization can provide the metals trading industry with several benefits, including access to buyers’ and suppliers’ networks, panellists said at an LME Week seminar in London on October 11.

Base metals prices on the London Metal Exchange all performed well during morning trading on Tuesday October 19, while high energy prices and lower production levels continued to squeeze the markets.

Base metals prices continued to soar higher this morning, Tuesday October 19, with cash prices rising at an even faster pace while shorts are squeezed. Cash copper prices on the London Metal Exchange were evaluated on Monday evening at $1,103.50 per tonne.

Here are five Fastmarkets stories you might have missed on Monday October 18 that are worth another look.

Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said on Monday October 18 .

Argentinian aluminium producer Aluar will resume a quarter of its production capacity that has been restricted since the beginning of the Covid-19 pandemic after the federal government guaranteed power supply at lower costs, the company and the government said jointly on Wednesday October 13.

London Metal Exchange prices ended broadly lower on the afternoon of Monday October 18 after rising to new highs during the trading day, while copper spread backwardations reached previously unseen figures.

Vale's operational license at its Onça Puma nickel mine in northern Brazil has again been suspended by the state court of Pará, the Brazilian mining company said on Monday October 18.

Ford Motor will invest $316 million to build electric car components at its Halewood factory in northern England, it said.

A summary of Peru-based miner Buenaventura’s output and sales figures for the third quarter of 2021, as stated in its production report published on Friday October 15.

The total amount of lead held outside of the London Metal Exchange's warehouses fell by 77.6% over August, with most other metals also posting declines, according to the LME's latest report.

Base metals prices on the London Metal Exchange mostly rose during morning trading on Monday October 18, due to continued fears of supply tightness.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally up strongly this morning, Monday October 18, with energy shortages and high energy prices continuing to affect supply. The market seems to be ignoring, for now, the weaker economic data out of China.

Here are five Fastmarkets stories you might have missed on Friday October 15 that are worth another look.

The entirety of copper's London Metal Exchange forward curve ended the day in a backwardated state on October 15, with fears of supply tightness taking over metals across the board.