Metals Industry News

The aerospace industry has been hit hard by the Covid-19 pandemic, with companies in the sector forced to take drastic measures to adapt to the new market environment.

Aluminium foundry alloy premiums in Europe and the United States fell due to a lack of demand, with most automakers suspending car production in both regions.

The London Metal Exchange three-month copper price held above the $5,000 psychological mark on Thursday April 9, closing at $5,002.50 per tonne in a day with a turnover of just above 11,600 lots.

Chinese traders are ramping up bids for physical copper in a bid to secure units before an expected cut to valued-added tax (VAT) in April.

Fastmarkets’ copper concentrates treatment charge and refining charge (TC/RC) index dropped below the annual benchmark level in a week characterized by force majeures and mines being put on care and maintenance.

Brazilian mining company Vale has decided to extend the care and maintenance period at its Voisey’s Bay nickel mine, in northeast Canada, for up to three months to prevent the spread the Covid-19 coronavirus, the company said on Wednesday April 8.

The Peruvian government has extended the national state of emergency by two weeks to April 26 in an attempt to contain the spread of the Covid-19 virus in the country.

Airbus, Europe’s largest manufacturer, will cut aircraft production of its core three aircraft models by roughly a third, the company said in a release on Wednesday April 8.

Key data from Fastmarkets’ pricing session in Shanghai on Thursday April 9.

The London Metal Exchange three-month tin price was boosted during morning trading on Thursday April 9, with a fresh outflow of 115 tonnes, while LME zinc’s fresh cancellation of 8,525 tonnes offset an inflow of around 8,950 tonnes.

Alumina refineries are struggling to stay above the cost curve with prices at four-year lows, while smelter cuts upstream could further widen refining losses.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Thursday April 9, as were Asian-Pacific equity indices.

The Rotterdam in-warehouse tin premium narrowed downward in the week to Tuesday April 7, with lackluster demand across Europe a growing concern for market participants.

Here are five Fastmarkets stories you might have missed on Wednesday April 8 that are worth another look.

Lead and zinc scrap prices continued to decline this week while scrap supply slowed due to reduced reduced peddler and industrial volumes and smelting demand also lessened following auto-manufacturer shutdowns and a general economic slump.

Nickel markets worldwide were holding steady in the week to Tuesday April 7 while the Covid-19 pandemic continued on an unpredictable path.

Liberty House Group has received European Commission (EC) approval to purchase Aleris Corp’s facility in Duffel, Belgium, eliminating the last regulatory hurdle for Novelis’ acquisition of Aleris.

Chile reported an 8% year-on-year increase in copper production during February, because heavy rains and lower output from the Chuquicamata mine had severely reduced volumes in 2019, state copper commission Cochilco said on Tuesday April 7.

World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.

The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday April 8, withstanding a large inflow of 44,000 tonnes and closing above nearby support levels, while nickel was the only metal to close higher over the day.