Metals Industry News

An overview of the battery raw materials markets and their latest price moves.

Fastmarkets’ benchmark copper concentrates treatment and refining charge (TC/RC) index rose on Friday May 22 for first time since the beginning of April after more smelters returned to the spot market this week.

Metals traders have begun to feel the pinch after a turbulent period in commodity markets have caused some banks to step back from fully financing cargoes under letters of credit (LC).

Deliverable stocks of all base metals except lead in Shanghai Futures Exchange-approved warehouses fell in the week to Friday May 22.

Chinese copper smelters have been expanding blindly over the past decade, leading to extreme competition for overseas copper concentrate and placing the industry in a fragile position with regards to procurement, an Aluminum Corp of China (Chalco) official has said.

Fastmarkets has discontinued seven price assessments, comprising aluminium extrusion and flat-rolled product conversion margins, plus calcined petcoke (CPC).

A 14,350-tonne fresh cancellation of aluminium in London Metal Exchange-approved Asian sheds, as of 9am on Friday May 22, kept the metal’s three-month price above the psychological level of $1,500-tonne.

Broad markets were weaker this morning, Friday May 22, led by a 4.8% fall in the Hang Seng; base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were down across the board.

Broad markets were weaker this morning, Friday May 22, led by a 4.8% fall in the Hang Seng; base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were down across the board.

Here are five Fastmarkets stories you might have missed on Thursday May 21 that are worth another look.

The United States is uniquely positioned to keep a leadership role in energy independence while it transitions to a low-carbon footprint, the chief executive officer of Enertopia Corp (ENRT) has said.

Copper stocks in London Metal Exchange-registered warehouses in Rotterdam have been steadily rising over May, indicating weak European copper consumption during a period of heightened economic uncertainty.

The three-month zinc price on the London Metal Exchange tumbled at the close of trading on Thursday May 21, losing some 3.6% in an afternoon downturn, while a fall in US unemployment claims failed to boost market sentiment.

A summary of the financial performance of Brazilian aluminium producer Companhia Brasileira de Alumínio (CBA) in the first quarter, as reported by parent company Votorantim on Thursday May 21.

The LME three-month zinc price fell 1.8% on moderately high turnover in morning trading on Thursday May 21, while the fresh cancelation of 21,775 tonnes in LME copper kept the red metal’s outright price elevated.

Global refined zinc production exceeded consumption by 240,000 tonnes in January-March this year in large part due to a rise in Chinese smelting of the metal, the International Lead & Zinc Study Group said in its latest market roundup.

Fastmarkets has corrected the LME copper and lead cash and 3 month settlement £ per tonne prices, which were published incorrectly on Monday May 18 due to an input error.

Broad markets were weaker this morning, Thursday May 21, this after strong gains in recent days on high hopes that the recovery will gain momentum while economies move out of lockdowns and with ultra-loose monetary policy adding fuel.

Chinese stainless steel prices were mostly stable over the past week despite sluggish buying interest, sources told Fastmarkets on Wednesday May 20.

Tin premiums in Shanghai and Taiwan rose on Tuesday May 19, reflecting a continued drawdown in regional supply against arbitrage opportunities.