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Metals Industry News

European aluminium premiums steady following removal of Section 232 duties on Canada

Base Metals Market - Mon, 05/20/2019 - 16:20
Market participants saw little immediate change to aluminium premiums in Europe on Monday May 20 following the US government’s removal of its 10% Section 232 tariff on aluminium imports from Canada and Mexico at the end of last week.
Categories: Metals Industry News

HOTTER ON METALS: LME spells out cancellation process

Base Metals Market - Mon, 05/20/2019 - 16:02
The London Metal Exchange has decided on a dispute over when the load-in, load-out (LILO) rule should have been activated, ruling in favor of warehouse company Istim.
Categories: Metals Industry News

Malaysian ports hold scrap cargoes following waste processing inspections; copper scrap diverted

Base Metals Market - Mon, 05/20/2019 - 12:21
Massive amounts of scrap metal are being held at Malaysian ports for unprecedented inspections and multiple copper cargoes still at sea are being diverted to other Asian countries at big discounts, sources told Fastmarkets.
Categories: Metals Industry News

LIVE FUTURES REPORT 20/05: LME nickel price slips below $12,000/t in slow London trading

Base Metals Market - Mon, 05/20/2019 - 10:28
The three-month nickel price on the London Metal Exchange fell by 0.7% below its traditional support level of $12,000 per tonne during morning trading on Monday May 20, although thin trading volumes have capped further downside movement.
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MORNING VIEW: A shaky start to LME base metals prices on geopolitical uncertainties

Base Metals Market - Mon, 05/20/2019 - 09:50
Renewed selling interest on Friday May 17 has capped the upside from the slight rebound mid-last week and the metal markets generally look shaky in the early morning of Monday May 20.
Categories: Metals Industry News

Global alumina price may hit $400/t on rising Chinese import interest, say market participants

Base Metals Market - Mon, 05/20/2019 - 09:44
The global alumina price may hit $400 per tonne soon following the rally in the Chinese domestic alumina price and China’s growing buying interest in the seaborne market, sources told Fastmarkets on Monday May 20.
Categories: Metals Industry News

LIVE FUTURES REPORT 20/05: SHFE base metals prices mixed as copper and nickel head in opposite directions

Base Metals Market - Mon, 05/20/2019 - 04:25
Base metals prices on the Shanghai Futures Exchange were mixed during morning trading on Monday May 20, with nickel leading the falls and only copper and lead showing positive performances.
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IN CASE YOU MISSED IT: 5 key stories from May 17

Base Metals Market - Mon, 05/20/2019 - 00:05
Here are five Fastmarkets MB stories you might have missed on Friday May 17 that are worth another look.
Categories: Metals Industry News

Widening LME aluminium contango prompts fresh stock cancellations

Base Metals Market - Fri, 05/17/2019 - 21:14
The swing back into contango in the nearby aluminium forward curve on the London Metal Exchange triggered the cancellation of more than 90,000 tonnes of aluminium in LME-bonded warehouses this week.
Categories: Metals Industry News

Widening LME aluminium contango prompts fresh stock cancelations

Base Metals Market - Fri, 05/17/2019 - 21:14
The swing back into contango in the nearby aluminium forward curve on the London Metal Exchange moving triggered the cancelation of more than 90,000 tonnes of aluminium in LME-bonded warehouses this week.
Categories: Metals Industry News

Codelco to present last offer for Chuquicamata workers unions by May 24

Base Metals Market - Fri, 05/17/2019 - 18:30
Representatives of Chilean state-owned copper producer Codelco will make their final wage and bonus offer to three workers’ trade unions for the Chuquicamata mine division by May 24, the unions said on Friday May 17.
Categories: Metals Industry News

Copper concentrate TC/RCs dip to new 5-yr low; traders snapping up tender tonnages

Base Metals Market - Fri, 05/17/2019 - 18:00
Copper concentrates treatment and refining charges (TC/RCs) continued to edge down in the second week of May due to traders snapping up tender tonnages at low numbers, while smelters became hesitant in spot purchases.
Categories: Metals Industry News

LIVE FUTURES REPORT 17/05: LME base metals lower amid US dollar gains

Base Metals Market - Fri, 05/17/2019 - 17:58
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Friday May 17, with broad strength in the US dollar index pressuring commodity prices while trade tensions continue to deter investment.
Categories: Metals Industry News

BATTERY RAW MATERIALS MARKET REPORT 17/05: Cobalt metal prices edge lower on thin demand

Base Metals Market - Fri, 05/17/2019 - 17:45
An overview of the battery raw materials markets and their latest price moves.
Categories: Metals Industry News

SHFE STOCKS REPORT 17/05: Lead inventories spike by 15%, rest of complex post marginal falls

Base Metals Market - Fri, 05/17/2019 - 15:52
Lead stocks held in Shanghai Futures Exchange-approved warehouses leapt by approximately 15% week on week on Friday May 17 due to weak demand.
Categories: Metals Industry News

MJP aluminium stocks inch up 1.4% in April - Marubeni

Base Metals Market - Fri, 05/17/2019 - 12:56
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose 1.4% month on month in April, data released by major Japanese trading house Marubeni Corp on Friday May 17 showed.
Categories: Metals Industry News

FOCUS: LME nickel spreads move to widest backwardations in five years

Base Metals Market - Fri, 05/17/2019 - 10:30
The London Metal Exchange nickel cash/three-month spread has flipped to its widest backwardation since January 2015 while nickel stocks hit a seven-year low on Friday May 17.
Categories: Metals Industry News

LIVE FUTURES REPORT 17/05: LME Al ignores 45kt cancelation in poor morning trading

Base Metals Market - Fri, 05/17/2019 - 10:15
Aluminium’s three-month price on the London Metal Exchange declined during morning trading on Friday May 17, falling by 0.3% and shrugging off just under 45,000 tonnes of freshly canceled material from LME-registered warehouses in Asia.
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MORNING VIEW: LME base metals prices mostly weaker while cross winds cloud picture

Base Metals Market - Fri, 05/17/2019 - 09:45
The firmer tone of recent days has subsided this morning, Friday May 17, with some talk out of China that they are in no hurry to resume trade talks no doubt weighing on sentiment.
Categories: Metals Industry News

LIVE FUTURES REPORT 17/05: SHFE base metals prices mixed amid simmering US-China trade tensions; tin slides 0.7%

Base Metals Market - Fri, 05/17/2019 - 05:31
Base metals prices on the Shanghai Futures Exchange were mixed during morning trading on Friday May 17, after positive US data releases overnight could offer only some respite from the continuing US-China trade war.
Categories: Metals Industry News

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