Metals Industry News

Base metals prices on the London Metal Exchange were collectively higher during morning trading on Thursday October 4, with aluminium’s price rally continuing after Norsk Hydro announced a full suspension of operations at its Alunorte alumina refinery in Brazil.

The aluminium import arbitrage between the United States and Asia narrowed on Wednesday October 3 due to a weaker London Metal Exchange price and a softer P1020 US Midwest delivered premium.

Three-month base metals prices on the London Metal Exchange were for the most part weaker during morning trading on Thursday October 4.

Import prices for stainless steel in East Asia were unchanged over the past week, ending a month’s worth of decline, with trading activity slowing down due to China's National Day break.

Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Thursday October 4.

Three-month base metals prices on the London Metal Exchange were broadly up during early trading on Thursday October 4 following the release of positive economic data from the United States overnight.

Premiums for zinc remained high in Asia over the past week, with elevated rates in China drawing units from elsewhere in the region as well as from Europe and the United States. In lead, Indian premiums received a boost with Iranian material once again absent from the spot market.

Long queues, expensive financing rates and strong demand continued to push premiums for cut nickel cathodes higher in Europe, while US nickel premiums continued to flat-line in the absence of spot-market demand.

The prices of base metals on the London Metal Exchange were mixed at the close of trading on Wednesday October 3, with aluminium’s three-month price up more than 4% amid a full closure of Norsk Hydro’s alumina operations in Brazil, while lead struggled against trade woes.

Chinese futures brokerage firm Nanhua Futures has taken steps to attain category II clearing membership on the London Metal Exchange, with a particular focus on trading LME warrants, Fastmarkets understands.

Tin premiums across Europe and the United States were flat in the week to Tuesday October 2, with supply flows from Indonesia and other producing countries remaining steady amid a slowdown in business while the market awaits the start of LME Week 2018.

Comex copper prices were little changed in morning trading on Wednesday October 3 with the market seeking fresh catalysts before setting a new direction.

The Rotterdam spot copper premium rose slightly on Tuesday October 2 after major producers Codelco and Aurubis both raised their annual contract offers to European clients due to expected tightness in supply.

Base metals prices on the London Metal Exchange were for the most part lower during morning trading on Wednesday October 3, with the exception of aluminium, which climbed more than 3% following news of a shutdown in operations at Norsk Hydro’s Alunorte alumina refinery in Brazil.

Hydro is preparing for a full curtailment of operations at its alumina refinery in Brazil, the company announced today.

South Korea’s Public Procurement Service (PPS) is seeking to procure a total of 2,000 tonnes of special high-grade zinc via two tenders, according to a notice posted on the state-owned stockpiling agency’s website on Tuesday October 2.

Three-month base metals prices on the London Metal Exchange were for the most part firmer during morning trading on Wednesday October 3.

Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Wednesday October 3.

Most three-month base metals prices on the London Metal Exchange maintained their downward trajectory during early trading on Wednesday October 3, with recent weak Chinese economic data and a strong dollar dampening risk-on sentiment.

Zinc concentrate treatment charges (TCs) have climbed to their highest level in two and a half years, with spot parcels trading at terms well above $100 per tonne in September.