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Metals Industry News

Codelco approves further $1.24 bln investment in El Teniente expansion

Base Metals Market - Tue, 01/19/2021 - 17:58
Chilean copper producer Codelco’s board of directors has approved a $1.24 billion investment in the expansion of its El Teniente facility just south of the capital, Santiago, the state-owned copper producer said on Tuesday January 19.
Categories: Metals Industry News

LIVE FUTURES REPORT 19/01: LME lead, nickel make gains near 1%

Base Metals Market - Tue, 01/19/2021 - 17:45
London Metal Exchange lead and nickel made gains close to 1% during the afternoon trading session on Tuesday January 19, with a lower US dollar index giving metals some space to recuperate their forward prices.
Categories: Metals Industry News

HOTTER ON METALS: Changing LME clearing model could kill the golden goose

Base Metals Market - Tue, 01/19/2021 - 16:20
The London Metal Exchange and its clearing house are revisiting a proposal to transition to a different way of calculating its clearing methodology.
Categories: Metals Industry News

AT A GLANCE: Nexa Resources meets 2020 zinc, copper, lead output guidance

Base Metals Market - Tue, 01/19/2021 - 14:32
A summary of Brazilian base metals producer Nexa Resources’ operational figures for the fourth quarter and full-year 2020, as stated in its production report published on Tuesday January 19.
Categories: Metals Industry News

HOTTER ON METALS: Covid-19 to kill the LME ring

Base Metals Market - Tue, 01/19/2021 - 14:06
Covid-19 appears to have claimed another casualty: the London Metal Exchange ring trading floor.
Categories: Metals Industry News

LME proposes to permanently shut ring, incentivize electronic trade

Base Metals Market - Tue, 01/19/2021 - 14:00
The London Metal Exchange is proposing the permanent closure of its open-outcry trading floor and the incentivization of greater liquidity on its electronic trading platform, LMESelect.
Categories: Metals Industry News

No deal between Jiangxi Copper, First Quantum for 2021 contracted copper blister, anode supply - sources

Base Metals Market - Tue, 01/19/2021 - 12:22
Chinese copper producer Jiangxi Copper and Canada-based First Quantum have not agreed to a contractual supply of intermediate copper products for 2021, Fastmarkets has learned.
Categories: Metals Industry News

AT A GLANCE: Rio Tinto’s 2020 Al output stable; bauxite production at 56.1 mln

Base Metals Market - Tue, 01/19/2021 - 11:25
A summary of Rio Tinto’s fourth-quarter 2020 production results.
Categories: Metals Industry News

Rusal partners with Mingtai Aluminium to produce low-carbon products

Base Metals Market - Tue, 01/19/2021 - 11:09
Aluminium producer Rusal has partnered with Henan Mingtai Aluminium to deliver low-carbon aluminium products to meet growing market demand, it said on Tuesday January 19.
Categories: Metals Industry News

LIVE FUTURES REPORT 19/01: Copper sole LME base metal to make gains; Al continues to fall

Base Metals Market - Tue, 01/19/2021 - 10:24
Copper was the only base metal on the London Metal Exchange to register a gain during morning trading on Tuesday January 19, while aluminium’s forward price continued to drop and tin recorded the biggest decline, with the complex still capped by a firm dollar.
Categories: Metals Industry News

Glencore sells majority stake in Mopani copper mine for $1.5bln

Base Metals Market - Tue, 01/19/2021 - 10:05
Glencore has agreed to sell its 73% stake in the Mopani copper mine in Zambia to the Zambian state mining investment arm, the Swiss commodity trader said on Tuesday January 19.
Categories: Metals Industry News

Glencore sells majority stake in Mopani copper mine for $1.5 bln

Base Metals Market - Tue, 01/19/2021 - 10:05
Glencore has agreed to sell its 73% stake in the Mopani copper mine in Zambia to the Zambian state mining investment arm, the Swiss commodity trader said on Tuesday January 19.
Categories: Metals Industry News

PRICING NOTICE: Amendment to No2 copper scrap discount assessment

Base Metals Market - Tue, 01/19/2021 - 09:30
After an extended consultation period, Fastmarkets has decided to amend its discount assessment for No2 copper scrap imported into China so that it is aligned with the country’s new import policy for such material.
Categories: Metals Industry News

MORNING VIEW: LME base metals prices mixed with aluminium following zinc lower

Base Metals Market - Tue, 01/19/2021 - 08:51
Base metals prices on the London Metal Exchange were mixed this morning, Tuesday January 19, but aluminium prices have followed recent weakness in zinc, breaking support levels in the process.
Categories: Metals Industry News

ZINC CONCS SNAPSHOT: TCs flat at low levels, miners offer big tonnes to market

Base Metals Market - Mon, 01/18/2021 - 20:32
Treatment charges for spot market zinc concentrates were flat from one assessment to the next at low levels in the first half of January, with smelters and traders weighing seemingly limited short-term availability against expectations of a mined abundance later this year.
Categories: Metals Industry News

LIVE FUTURES REPORT 18/01: LME aluminium price dips on 112kt delivery; tin up 0.6%

Base Metals Market - Mon, 01/18/2021 - 17:48
The London Metal Exchange aluminium forward price was dented by almost 1% by a sizeable delivery of material to registered warehouses, while tin recorded the biggest increase at the 5pm close on Monday January 18.
Categories: Metals Industry News

Mining resumes in Vedanta's Gamsberg zinc operation after two months

Base Metals Market - Mon, 01/18/2021 - 16:05
Mining at Vedanta Zinc International's South African zinc mine in Gamsberg has resumed after a two-month shutdown following a landfall at the project in November.
Categories: Metals Industry News

Britannia Global Markets to ascend to Cat 2 on LME in February

Base Metals Market - Mon, 01/18/2021 - 15:55
Britannia Global Markets’ application to become a category 2 broking member of the London Metal Exchange has been approved by the exchange, its parent company said on Monday January 18.
Categories: Metals Industry News

Brittania Global Markets to ascend to Cat 2 on LME in February

Base Metals Market - Mon, 01/18/2021 - 15:55
Britannia Global Markets’ application to become a category 2 broking member of the London Metal Exchange has been approved by the exchange, its parent company said on Monday January 18.
Categories: Metals Industry News

112k aluminium delivery puts Gwangyang as new hotspot; spreads to widen

Base Metals Market - Mon, 01/18/2021 - 14:48
A delivery of over 100,000 tonnes of aluminium into warehouses across the London Metal Exchange network should be supportive of wider contangos and higher premiums, market participants told Fastmarkets.
Categories: Metals Industry News

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