Metals Industry News

The bullish sentiment in China’s aluminium alloy market has been falling since the Chinese government announced new customs code for imported aluminium scrap on Monday October 19, Fastmarkets learned.

The US nickel briquette premium continued to ascend in the week to Tuesday October 20 amid increased spot business at higher levels while lackluster appetites kept all other regional premiums stable over the period.

London Metal Exchange three-month base metals prices were trading up on the previous day’s close during the morning session on Wednesday October 21, boosted by hopes of an imminent US fiscal stimulus package and increased government-sanctioned Chinese infrastructure spending.

Hydro has signed a deal with Lyse to merge part of their hydropower production to create a stronger presence in the renewable energy sector to secure long-term supply for its aluminium operations, the former said on Wednesday October 21.

A summary of Antofagasta’s production results for the third quarter of 2020.

A summary of BHP’s operational review for copper, nickel and zinc for its financial first quarter ended September 30, 2020, as released on Tuesday October 20.

Half of the base metals prices on the London Metal Exchange have in recent days risen to multi-month highs, with copper reaching levels not seen since June 2018, and all of the metals are pushing higher this morning, Wednesday October 21.

Volatility in London Metal Exchange aluminium price spreads caused premiums in the Dutch port of Rotterdam to drop in the week to Tuesday October 20, while the US Midwest premium held steady amid continuing long-term contract negotiations.

A summary of base metals premiums from across the globe for the week to Tuesday October 20.

Fastmarkets is proposing to amend the settlement criteria for its MB-AL-0001 aluminium P1020A (MJP) quarterly premium, cif Japan, $ per tonne.

London Metal Exchange three-month base metals prices except aluminium were trading up at the close on Tuesday October 20, buoyed by an upswing in United States equities markets.

Marcus Garvey is the new head of metals and bulks commodity strategy at Macquarie, the Australian bank said on Monday October 19.

The three-month aluminium price on the London Metal Exchange was subdued during morning trading on Tuesday October 20 following a fresh inflow of 17,625 tonnes and continued re-warranting in Port Klang, while nickel futures breached nearby resistance amid steady buying.

China has announced its 13th batch of scrap metal import quotas for 2020, allowing considerably smaller volumes of copper and aluminium scrap to enter the country than in its previous round of quotas.

Here are five Fastmarkets stories you might have missed on Monday October 19 that are worth another look.

Further measures to increase transparency and investments for metal producers were required to expand the sustainable metal market, participants said on a sustainability panel during the London Metal Exchange’s online LME Week seminars on Monday October 19.

The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Monday October 19, rallying by more than 2.5% against positive forward spreads and robust demand.

Recycled copper and aluminium that meet China’s standards for renewable metals instead of solid waste can be freely imported into the country starting from November 1, according to the Chinese Ministry of Ecology and Environment.

With the caveat that he was making “a strange presentation in a strange year,” ED&F Man’s Ed Meir described the recent rebound in the London Metal Exchange three-month nickel as “stunning” during the LME Week metals debate on Monday October 19.

Canada-based Lundin Mining Corp is to suspend operations at its Candelaria copper mine in Chile after mediation talks with a second union at the site failed to result in an agreement .