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Metals Industry News

GLOBAL TIN WRAP: Global premiums flat on tighter nearby spreads, weakening demand

Base Metals Market - Wed, 05/22/2019 - 17:04
Global tin premiums were unchanged in all regions we follow in the week ended Tuesday May 21, with a large backwardation in the London Metal Exchange forward spreads limiting spot business in Asian, European and North American markets.
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GLOBAL ZINC & LEAD WRAP: European Zn premium recovers from historic lows, US lead demand softens

Base Metals Market - Wed, 05/22/2019 - 16:40
Spot premiums for special high-grade (SHG) zinc ingots recovered slightly in Europe after falling to historical lows last week, though an extreme backwardation on the London Metal Exchange cash/three-month spread persists.
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GLOBAL NICKEL WRAP: US, EU briquettes diverge; Chinese premiums stable on closed import window

Base Metals Market - Wed, 05/22/2019 - 15:00
The United States and European nickel briquette premiums diverged in the week to Tuesday May 22 on tariff uncertainty and shipping issues, while Chinese premiums traded flat across the board amid a lack of arbitrage profit possibility on a closed trade window.
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NEWSBREAK: Aurubis acquires copper-tin secondary smelter Metallo for $424 mln

Base Metals Market - Wed, 05/22/2019 - 12:44
Germany’s Aurubis has agreed to acquire copper-tin recycler Metallo Group in a €380 million ($424 million) share purchase deal, it said on Wednesday May 22.
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GLOBAL COPPER WRAP: Premiums lower in Shanghai; arbitrage keeps US spike short lived

Base Metals Market - Wed, 05/22/2019 - 11:45
Copper premiums in Shanghai dropped over the week ended on Tuesday May 21, with a slew of deals for SX-EW cathodes at low levels, while the spike in premiums in the United States may not last if key smelters return to the market.
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LIVE FUTURES REPORT 22/05: LME base metals prices down amid macro-inspired thin volumes, stronger dollar; Cu down 0.6%

Base Metals Market - Wed, 05/22/2019 - 10:15
London Metal Exchange base metals prices were suppressed in the morning session on Wednesday May 22, with macro-inspired bearish selling equating to thin trading volumes and a strengthened dollar exerting downward pressure.
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GLOBAL ALUMINIUM WRAP: US Midwest premium ticks lower following Section 232 developments

Base Metals Market - Wed, 05/22/2019 - 08:05
Aluminium premiums in the United States fell after the country removed its 10% tariff on aluminium products imported from Canada and Mexico.
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LIVE FUTURES REPORT 22/05: Macro concerns, firm dollar weigh on SHFE base metals prices; Cu down 0.6%

Base Metals Market - Wed, 05/22/2019 - 05:25
Base metals prices on the Shanghai Futures Exchange were down across the board during morning trading on Wednesday May 22, with a challenging macroeconomic backdrop and firm dollar weighing on the complex.
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Albras aluminium smelter resumes normal operations, expected to reach full capacity in H2 2019

Base Metals Market - Wed, 05/22/2019 - 04:10
The Albras aluminium smelter in Brazil, partly owned by Norsk Hydro, has begun to ramp up its output following the removal of production restrictions at the Alunorte alumina plant, the Norwegian company said on Tuesday May 21.
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IN CASE YOU MISSED IT: 5 key stories from May 21

Base Metals Market - Wed, 05/22/2019 - 00:05
Here are five Fastmarkets MB stories you might have missed on Tuesday May 21 that are worth another look.
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WEEKLY BASE METAL PREMIUMS REPORT 21/05

Base Metals Market - Tue, 05/21/2019 - 20:25
A summary of base metals premiums from across the globe for the week to Tuesday May 21.
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LIVE FUTURES REPORT 21/05: LME base metals mostly buoyed by Dow Jones upsurge; Cu hits fresh low

Base Metals Market - Tue, 05/21/2019 - 17:53
The majority of London Metal Exchange base metals prices continued to trade up during the afternoon session on Tuesday May 21, with the complex largely following the equities markets on their upward trajectory.
Categories: Metals Industry News

Benchmark alumina price moves up despite Alunorte restart

Base Metals Market - Tue, 05/21/2019 - 16:50
News that Hydro’s Alunorte alumina refinery will return to full capacity, after the production embargo was removed, did little to stop the recent increase in alumina prices.
Categories: Metals Industry News

LIVE FUTURES REPORT 21/05: LME base metals prices advance despite dollar strength

Base Metals Market - Tue, 05/21/2019 - 09:57
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Tuesday May 21, ignoring an uptick in the dollar index, while trade war concerns continue to keep liquidity levels low.
Categories: Metals Industry News

Global copper market flips to 74,000-tonne surplus in February, ICSG says

Base Metals Market - Tue, 05/21/2019 - 09:46
The global refined copper market recorded a surplus of 74,000 tonnes in February 2019, compared with a deficit of 33,000 tonnes in the prior month, according to preliminary data released by the International Copper Study Group (ICSG).
Categories: Metals Industry News

LIVE FUTURES REPORT 21/05: SHFE base metals prices mixed; Al dips on Alunorte resumption

Base Metals Market - Tue, 05/21/2019 - 04:36
Base metals prices on the Shanghai Futures Exchange were on divergent paths during morning trading on Tuesday May 21, with the resumption of operations at the Alunorte refinery in Brazil putting pressure on aluminium prices, while nickel climbed after London Metal Exchange spreads moved into backwardation.
Categories: Metals Industry News

KCM’s copper assets at stake as Zambian government plans takeover

Base Metals Market - Mon, 05/20/2019 - 20:30
Konkola Copper Mines (KCM), the copper-producing arm of global miner Vedanta Resources in Zambia, is under threat from the president of the African country of a possible takeover of its copper assets amid disputes arising from the country’s new tax regime.
Categories: Metals Industry News

LIVE FUTURES REPORT 20/05: LME aluminium price falls 1.7% on news of Alunorte’s full resumption

Base Metals Market - Mon, 05/20/2019 - 17:50
Aluminium’s three-month price on the London Metal Exchange dropped by nearly 2% at the close of trading on Monday May 20, falling below its nearby $1,800 per tonne support level on the news that Norsk Hydro’s Alunorte alumina refinery in Brazil has been allowed to resume full operations.
Categories: Metals Industry News

CBA revenues up 14% in Q1 despite lower LME prices, sales volumes

Base Metals Market - Mon, 05/20/2019 - 17:26
Brazilian aluminium producer Companhia Brasileira de Alumínio’s (CBA) net sales revenue grew by 13.9% on an annual basis in the first quarter, despite lower sales volumes and London Metal Exchange prices, thanks to higher value-added product and surplus energy sales, the company said on Friday May 17.
Categories: Metals Industry News

NEWSBREAK: Alunorte alumina refinery to restart full production

Base Metals Market - Mon, 05/20/2019 - 17:13
Norsk Hydro’s Alunorte alumina refinery will ramp up to full production capacity after the federal court in Belem, Brazil, ended the final production embargo on the facility under the criminal lawsuit on Monday May 20.
Categories: Metals Industry News

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