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Metals Industry News

FOCUS: Q3 MJP aluminium negotiations still up in the air; no benchmark yet

Base Metals Market - 3 hours 2 min ago
We are only a few days into the third quarter of 2020, but no benchmark premium has yet been set for the supply of aluminium ingots to Japan for the July-September period.
Categories: Metals Industry News

Copper poised to rally above $7,000/t in 2021, ERG CEO says

Base Metals Market - 3 hours 36 min ago
Copper prices are poised to move above the $7,000-per-tonne level next year as the supply impacts of the Covid-19 pandemic last well beyond this year and the market enters a prolonged period of structural undersupply, the chief executive officer of Eurasian Resources Group (ERG) said.
Categories: Metals Industry News

LIVE FUTURES REPORT 06/07: LME nickel price continues rally; copper clears $6,100

Base Metals Market - 4 hours 6 min ago
The three-month nickel price on the London Metal Exchange was the standout performer at the close of trading on Monday July 6, with turnover at its highest since June 2, while copper futures similarly found momentum over the afternoon, closing above nearby resistance.
Categories: Metals Industry News

Trevali extends suspension at Santander zinc mine in Peru after more Covid-19 cases

Base Metals Market - 4 hours 51 min ago
Zinc and lead miner Trevali has delayed the restart of its suspended Santander mine in Peru after more workers tested positive for Covid-19.
Categories: Metals Industry News

Freeport beats revised Q2 copper sales forecast by 8%

Base Metals Market - 5 hours 56 min ago
Freeport-McMoRan has beaten its revised copper sales target for the second quarter of this year by 8%, although its Cerro Verde and El Abra operations continue to operate in line with forecasts modified in April due to the Covid-19 pandemic.
Categories: Metals Industry News

Codelco suspends El Teniente copper mine expansion to combat Covid-19

Base Metals Market - 6 hours 34 min ago
Codelco had demobilized staff and suspended construction at its El Teniente project in Chile to contain the rapidly spreading Covid-19 virus in the region, the company said on Saturday July 4.
Categories: Metals Industry News

LIVE FUTURES REPORT 06/07: LME nickel price surges past $13,000/t in 2% uptick; copper finds support despite backwardation

Base Metals Market - 9 hours 56 min ago
The three-month nickel price on the London Metal Exchange climbed by more than 2% to breach nearby resistance levels during morning trading on Monday July 6, while a backwardation in LME copper’s forward curve did little to stop its price incline amid fresh stock removals.
Categories: Metals Industry News

MORNING VIEW: Base metals prices firmer amid strength in broader markets in Asia

Base Metals Market - 12 hours 45 min ago
Asian equities markets were stronger this morning, Monday July 6, and that has helped drive gains averaging 0.8% across the three-month bases metals prices on London Metal Exchange.
Categories: Metals Industry News

SHFE STOCKS REPORT 03/07: Lead inventories climb 17.3%; tin down 3.4%

Base Metals Market - 17 hours 53 min ago
Deliverable lead stocks in Shanghai Futures Exchange-registered warehouses rose the most in percentage terms among the base metals in the week to Friday July 3, with an increase of 4,029 tonnes (17.3%) to 27,362 tonnes.
Categories: Metals Industry News

IN CASE YOU MISSED IT: 5 key stories from July 3

Base Metals Market - Fri, 07/03/2020 - 23:05
Here are five Fastmarkets stories you might have missed on Friday July 3 that are worth another look.
Categories: Metals Industry News

LIVE FUTURES REPORT 03/07: Backwardation pressures LME copper price; nickel slips below $13,000/t

Base Metals Market - Fri, 07/03/2020 - 18:08
The three-month copper price on the London Metal Exchange was lower at the close of trading on Friday July 3, falling by more than 1.2% over the afternoon against low turnover, while nickel futures slipped below nearby support levels.
Categories: Metals Industry News

BATTERY RAW MATERIALS MARKET REPORT 03/07: Lithium, graphite and cobalt metal prices all under pressure from thin demand

Base Metals Market - Fri, 07/03/2020 - 17:49
An overview of the battery raw materials markets and their latest price moves.
Categories: Metals Industry News

ALUMINIUM BILLET WRAP: Brazil, Thailand premiums fall on weak demand; Europe flat

Base Metals Market - Fri, 07/03/2020 - 16:44
Aluminium billet premiums in Brazil and Thailand edged lower on Friday July 3 due to continued poor demand, while liquidity for billet across the globe remained low.
Categories: Metals Industry News

Production resumes at Hydro’s Paragominas mine, Alunorte alumina refinery

Base Metals Market - Fri, 07/03/2020 - 16:27
The power supply to the Paragominas bauxite mine, in the state of Pará in northern Brazil, has been restored, producer Hydro said on Friday July 3.
Categories: Metals Industry News

COPPER CONCS SNAPSHOT: TC/RCs steady with focus on Chile mine supply concerns

Base Metals Market - Fri, 07/03/2020 - 16:25
The spot market remained subdued this week but buyers are picking up copper concentrates at low levels while the Chilean coronavirus situation remains precarious, sources said on Friday July 3.
Categories: Metals Industry News

ALUMINA SNAPSHOT: Demand from China pushes alumina index above $260/t

Base Metals Market - Fri, 07/03/2020 - 16:03
Key information from the pricing session for Fastmarkets’ alumina index, fob Australia, on Friday July 3.
Categories: Metals Industry News

Rio Tinto sees 15% less copper reserves in Oyu Tolgoi after plan changes

Base Metals Market - Fri, 07/03/2020 - 15:40
The volume of recoverable copper reserves at Rio Tinto's Oyu Tolgoi mine has dropped by 15% in the latest mine plan, according to a regulatory filing released on Friday July 3.
Categories: Metals Industry News

Chinese alumina market ‘lights up’ as SHFE aluminium price hits six-month high

Base Metals Market - Fri, 07/03/2020 - 11:33
Market activity in the domestic Chinese alumina market jumped up in the second half of the week to Thursday July 2 after the Shanghai Futures Exchange aluminium futures price rose to its highest since January 23.
Categories: Metals Industry News

LIVE FUTURES REPORT 03/07: LME nickel price bucks downtrend with 1.3% climb; copper spread swings to backwardation

Base Metals Market - Fri, 07/03/2020 - 10:44
The three-month nickel price on the London Metal Exchange surged by more than 1% during morning trading on Friday July 3 amid strong turnover, while tight forward spreads cooled interest in LME copper futures.
Categories: Metals Industry News

Five key drivers in the aluminium Rotterdam duty-paid market for Q3

Base Metals Market - Fri, 07/03/2020 - 09:00
With the first half of a volatile 2020 finished, participants in the aluminium Rotterdam duty-paid market expect United States-Canada trade policies, premium forwards, spreads and a complicated 2021 mating season to drive premiums in the coming months.
Categories: Metals Industry News

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