Metals Industry News

Base metals prices on the London Metal Exchange were generally suppressed during morning trading on Monday March 25, continuing on the downward trajectory from last week.

A ramp-up in Chinese zinc production is expected to accelerate from the second quarter of this year, boosted by the completion of upgrades at smelting facilities across the country and a surge in treatment charges (TCs) amid a relatively oversupplied raw materials market, sources told Fastmarkets.

The London Metal Exchange three-month base metals prices ran into follow-through selling on the morning of Monday March 25 following the weak economic data points released at the end of last week.

Copper led the rest of the base metals traded on the Shanghai Futures Exchange downward during morning trading on Monday March 25, with a firm US dollar and weak economic data weighing on sentiment.

Here are five Fastmarkets MB stories you might have missed on Friday March 22 that are worth another look.

Gains in non-ferrous auto shred (twitch) prices in the United States have whittled the spread to benchmark A380.1 aluminium to an over 20-month low.

An overview of the battery raw materials markets and their price moves from the past week.

The implementation of tariffs and quotas against US steel and aluminium imports has been heralded and criticized as an unusual trade remedy, with President Donald Trump's administration applying blanket duties rather than more focused - and more typical - anti-dumping and countervailing margins.

As of March 23, it has been a full year since US President Donald Trump’s administration imposed tariffs against imported steel and aluminium under Section 232 of the Trade Expansion Act of 1962, which allows the president to place restrictions on imports on national security grounds.

Copper’s three-month price on the London Metal Exchange was lower at the close of trading on Friday March 22, ending the week down more than 3% and closing just above $6,300 per tonne.

Fastmarkets’ alumina index fob Australia moved to its highest level since early December due to unrelenting market tightness.

The Industrial and Commercial Bank of China (ICBC) has revised its base metals price forecasts lower across the board for 2019 in its latest base metals outlook report, specifying global recession fears and a rising macro-financial tide in its adjustments.

A conflict between Norwegian aluminium group Norsk Hydro and the Brazilian federal prosecutors’ office, MPF, could put the company’s bauxite production in the Northern state of Pará at risk.

A conflict between Norwegian aluminium group Norsk Hydro and the Brazilian federal prosecutors’ office, MPF, could put the company’s bauxite production in the Northern state of Pará at risk.

Comex copper prices failed to hold onto previous gains on Friday March 22, with a stronger dollar and concerns over global economic growth weighing on the base metals complex.

Base metal stocks on Shanghai Futures Exchange-approved warehouses showed divergent trends during the week ending Friday March 22, with zinc stocks falling by 6.5% but those of aluminium, tin and lead rising.

Glencore has halted mining operations and loading activities at its McArthur River zinc mine ahead of the arrival of Cyclone Trevor, the Australian miner said on Friday in an emailed statement to Fastmarkets.

Warrant traders are reporting a big spike in Korean aluminium warrant premiums amid a substantial supply shortage in the region, Fastmarkets understands.

Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday March 22*

Major aluminium producers and Japanese buyers are closer to reaching a premium settlement for its second-quarter aluminium supply after further deals were concluded at a premium of $105 per tonne to main Japanese ports (MJP), Fastmarkets learned on Friday March 22.