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Metals Industry News

AT A GLANCE: Anglo American Q2 copper output rises on strong performance at Collahuasi

Base Metals Market - Thu, 07/16/2020 - 12:48
A summary of Anglo American’s production results for the second quarter of 2020, according to a company results report released on Thursday July 16.
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LIVE FUTURES REPORT 16/07: LME nickel price sinks 2% in lackluster morning trading; copper corrects in 0.8% downturn

Base Metals Market - Thu, 07/16/2020 - 11:00
The three-month nickel price on the London Metal Exchange was the biggest underperformer during morning trading on Thursday July 16, with the market facing risk-off pressure amid a recent oil spill from a large producer, while fresh stock withdrawals failed to stem a downward correction in the LME copper price.
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Nornickel starts environmental work amid Rusal’s calls for new management

Base Metals Market - Thu, 07/16/2020 - 10:42
Russian multi-metal miner Nornickel’s newly-established environmental working group has begun work to tackle the significant fallout from a series of recent ecological disasters, the company said on Thursday July 16.
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China’s domestic stainless steel prices rise, but export market flat

Base Metals Market - Thu, 07/16/2020 - 07:33
China’s domestic stainless steel prices continued to rise over the past week on low inventory levels and high production costs. Meanwhile, export prices were flat amid sparse trading.
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Covid 2nd wave could reverse aluminium demand recovery: Alcoa

Base Metals Market - Thu, 07/16/2020 - 07:03
The demand recovery seen in aluminium markets would likely vanish if the Covid-19 pandemic widens its spread, Alcoa chief executive officer Roy Harvey warned in a call discussing second-quarter earnings on Wednesday July 15.
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‘Stars align’ for green Al, but timeline still unclear, Alcoa’s Harvey says

Base Metals Market - Thu, 07/16/2020 - 05:47
Aluminium consumers and investors are increasingly calling for a green aluminium premium, but it remains unclear as to when the market will adopt it, Alcoa chief executive officer Roy Harvey said in a call discussing second-quarter earnings on Wednesday July 15.
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Alcoa chimes in on Canada tariff issue

Base Metals Market - Thu, 07/16/2020 - 05:18
US Section 232 tariffs on Canadian aluminium would not solve the root issue of Chinese overcapacity, Alcoa’s chief executive officer Roy Harvey said during a call discussing the company’s second-quarter earnings on Wednesday July 15.
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CHINA ALUMINIUM INGOT ADC 12 SNAPSHOT: Strong futures support export, domestic markets

Base Metals Market - Thu, 07/16/2020 - 04:39
Key data from the Wednesday July 15 pricing session in Shanghai.
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IN CASE YOU MISSED IT: 5 key stories from July 15

Base Metals Market - Thu, 07/16/2020 - 00:05
Here are five Fastmarkets stories you might have missed on Wednesday July 15 that are worth another look.
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GLOBAL TIN WRAP: Europe premium declines on weak demand, LME backwardation; premiums flat elsewhere

Base Metals Market - Wed, 07/15/2020 - 22:40
A persistent backwardation in tin’s forward curve on the London Metal Exchange pressured the tin premium in Europe in the two weeks to Tuesday July 14; meanwhile, premiums in all other regions assessed by Fastmarkets were unchanged.
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US aluminium premiums may double if Section 232 tariffs, quotas on Canada return, trade bodies say

Base Metals Market - Wed, 07/15/2020 - 19:15
Aluminium premiums in the United States could almost double if Section 232 tariffs or quotas were imposed on imports of aluminium from Canada, and would have a “financially disastrous” effect on American manufacturers, according to a group of US trade associations.
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BASE METALS WARRANT REPORT 15/07

Base Metals Market - Wed, 07/15/2020 - 19:15
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 15.
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LIVE FUTURES REPORT 15/07: LME copper price falls 1.6% at close; zinc improves

Base Metals Market - Wed, 07/15/2020 - 18:43
The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday July 15, despite a loosening of the metal’s forward curve, while zinc futures led the base-metals complex to close just above nearby support levels.
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KCM's NChanga copper mine collapses; smelter still at work

Base Metals Market - Wed, 07/15/2020 - 18:40
Part of the Nchanga copper mine in Zambia collapsed during the morning of Wednesday July 15, as operator Konkola Copper Mines had earlier predicted that it would.
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Trevali restarts Santander zinc mine after Covid-19 shutdown

Base Metals Market - Wed, 07/15/2020 - 17:30
Trevali has begun the restart of its Santander mine in Peru, two weeks after an outbreak of Covid-19 cases led to a shutdown there, the company said.
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House committee votes for aluminium import monitoring system

Base Metals Market - Wed, 07/15/2020 - 17:11
A United States House committee has voted to introduce the Aluminum Import Monitoring and Analysis (AIMA) system to track metal entering the country, with the goal of creating an early-warning system for excessive increases in imports.
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GLOBAL ZINC & LEAD WRAP: European zinc premiums hold despite LME price incline; US lead supply tightens

Base Metals Market - Wed, 07/15/2020 - 16:36
Global zinc premiums were static in the week to Tuesday July 14, with a climbing three-month London Metal Exchange price limiting spot interest, while tight lead supply in the United States and a closed import arbitrage window in China saw both markets stagnate.
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ESMA stress-test shows clearing houses are capable of ‘withstanding severe shocks’

Base Metals Market - Wed, 07/15/2020 - 15:11
A stress test carried out by the European Securities and Markets Authority (ESMA) on central clearing counterparties (CCPs) has shown European clearing houses are resilient to market shocks, but highlighted some abnormalities for the London Metal Exchange.
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GLOBAL COPPER WRAP: Shanghai premiums rise again; Europe stockpile illuminated

Base Metals Market - Wed, 07/15/2020 - 13:42
Copper premiums continued to rise in Shanghai in the week to Tuesday July 14, but were down in Southeast Asia as consumers balked at soaring exchange prices. Supply should increase in the United States as smelting resumes at Haden, while data released by the London Metal Exchange shows a large stockpile in Europe.
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NEWSBREAK: Fastmarkets settles Q3 MJP aluminium premium at $75-79/t

Base Metals Market - Wed, 07/15/2020 - 12:51
Fastmarkets has settled the benchmark premium for the supply of aluminium to main Japanese ports (MJP) in the third quarter of 2020 at $75-79 per tonne over the London Metal Exchange cash price.
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