Metals Industry News

Almost all base metal futures prices rose by over 3% in the week ending Friday April 16, despite falling lower from their readings on Thursday, boosted in part by a US dollar index that has been at its lowest in a month.

An overview of the new energy materials markets and their price moves from the past week.

Fastmarkets’ benchmark copper concentrate index ended three weeks of declines on Friday April 16 with a 7.3% uptick week on week.

Lead stocks in Shanghai Futures Exchange-registered warehouses climbed by 24.1% in the week to Friday April 16, due to seasonal weakness, while production cuts in Yunnan province caused tin inventories to fall 5.9%.

Australia-listed Consolidated Zinc began production of zinc and lead concentrates at its refurbished processing plant in Mexico on April 12, the company announced on Friday April 16.

Global aluminium producer United Co Rusal has completed its acquisition of Germany-based aluminium products producer Aluminium Rheinfelden GmbH, it said in a release dated Friday April 16.

Failure of two furnaces at the Malaysia Smelting Corp's (MSC) main tin smelter in Penang will cause disruptions to shipments, while the company said that it would seek to increase production in its new facility near Port Klang to fulfill its orders.

A shortage of aluminium in certain regions and healthy demand are keeping prices and premiums for the light metal throughout the supply chain supported at record highs around the world.

Nickel and lead futures prices on the London Metal Exchange pushed up on the morning of Friday April 16, while most other metals consolidated after a Thursday session that saw copper pulling along most of the other base metals.

Base metals prices on the Shanghai Futures Exchange were for the most part stronger this morning, Friday April 16, supported by robust economic data, while the base metals on the London Metal Exchange were consolidating after yesterday’s strength, which followed strong US data.

A summary of Chinese battery materials producer GEM’s financial results for the three months ended March 31.

China-based battery materials producer GEM has signed a supply memorandum with South Korea’s EcoPro BM, a subsidiary of cathode materials producer EcoPro, the former said on Thursday April 15.

A summary of aluminium and alumina producer Alcoa’s first quarter 2021 earnings results.

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

Areas of limited demand within the United States’ copper scrap market kept most prices steady this week, according to sources.

Copper led the way in a price surge on the London Metal Exchange on Thursday April 15, rising at the close to its highest level since late February and spurring the rest of the complex, with aluminium setting a year-to-date high during trading.

Copper prices could reach $15,000 per tonne within five years, boosted by a sharp rise in demand for the metal, which has been described by Goldman Sachs analysts as the “new oil” for its use in green technologies, in a report released on Tuesday April 13.

London Metal Exchange aluminium continued to reach new multi-year highs while copper and lead were up by 1% on Thursday April 15 morning while nickel and tin fell from their Wednesday gains.

Nornickel will increase its nickel production capacity from 65,000 tonnes currently to 75,000 tonnes by 2023 at its Nornickel Harjavalta refinery in Finland, the company said on April 14.

Base metals prices on the London Metal Exchange have been edging higher in recent days, although this morning, Thursday April 15, they were looking mixed, while those on the Shanghai Futures Exchange were for the most part firmer.