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Metals Industry News

Tongling's new 400ktpy copper smelter to debut in September - sources

Base Metals Market - Fri, 05/15/2020 - 11:27
Tongling Nonferrous's new 400,000-tonne-per-year copper smelter in Chifeng, Inner Mongolia, will come online in September this year, Fastmarkets has learned.
Categories: Metals Industry News

LIVE FUTURES REPORT 15/05: LME zinc price lags behind in 1% downturn; stock moves fail to move stagnant Al price

Base Metals Market - Fri, 05/15/2020 - 10:03
The three-month zinc price on the London Metal Exchange dropped during morning trading on Friday May 15, with the price continuing to trend lower against tight forward spreads and weak demand, while a large inflow and fresh cancellation in aluminium did little to budge the metal’s rangebound price.
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MORNING VIEW: Base metals prices mixed, broader markets consolidate while overall cross currents dominate

Base Metals Market - Fri, 05/15/2020 - 08:38
Hopes that the global economic engine fires up on the first attempt may be asking a lot given second waves of Covid-19 infections emerging, and the fact global leaders are not pulling together is not helping underlying sentiment this morning, Friday May 15, with US President Donald Trump at loggerheads with China.
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IN CASE YOU MISSED IT: 5 key stories from May 14

Base Metals Market - Fri, 05/15/2020 - 00:05
Here are five Fastmarkets stories you might have missed on Thursday May 14 that are worth another look.
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Chinese demand pressures US copper scrap market

Base Metals Market - Thu, 05/14/2020 - 23:09
Copper scrap discounts in the United States fell across the board this week, with competition in the form of Chinese export demand pressuring supply in an already tight domestic market.
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EC surveillance for aluminium, steel products set to expire

Base Metals Market - Thu, 05/14/2020 - 19:11
The European Commission’s (EC) prior surveillance of imports of certain aluminium products originating in certain third countries will expire on Friday May 15.
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LIVE FUTURES REPORT 14/05: LME lead price pushes above $1,600; nickel slides 1.4%

Base Metals Market - Thu, 05/14/2020 - 17:45
The three-month price of lead on the London Metal Exchange was higher at the close of trading on Thursday May 14, with buying momentum pushing the metal’s outright price above the $1,600 per tonne threshold, while the LME nickel price held above $12,000 per tonne despite a 1.4% downturn over the afternoon.
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MJP aluminium stocks continue decline in March; downstream demand dwindling

Base Metals Market - Thu, 05/14/2020 - 17:18
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama edged down 0.4% month on month at the end of March 2020, according to data released by major Japanese trading house Marubeni Corp.
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China's Daye starts construction of first major copper smelter since Covid-19 outbreak

Base Metals Market - Thu, 05/14/2020 - 11:00
Daye Nonferrous has maintained its mission to construct a brand new copper smelting facility despite the uncertain outlook for commodity demand and price volatility, Fastmarkets understands.
Categories: Metals Industry News

LIVE FUTURES REPORT 14/05: Fresh 60kt inflow cools LME copper; zinc slips 1.1%

Base Metals Market - Thu, 05/14/2020 - 10:48
The London Metal Exchange three-month base metals prices were pinned down on Thursday May 14 morning, largely due to continued risk-off sentiment related to the coronavirus outbreak, while a fresh 60,050-tonne inflow pressured the LME copper price.
Categories: Metals Industry News

MORNING VIEW: Base metals prices mixed as broader markets weaken following Fed comments

Base Metals Market - Thu, 05/14/2020 - 08:34
With some clusters of Covid-19 infections emerging after the lifting of lockdowns, there is less hope that a ‘V’-shaped rebound is sustainable and as a result markets were on a back foot this morning, Thursday May 14, especially broader markets, while the base metals were consolidating.
Categories: Metals Industry News

Newmont to start ramping up Peñasquito on May 18

Base Metals Market - Thu, 05/14/2020 - 03:34
Newmont is to begin ramping up operations at its Peñasquito lead-zinc-silver mine in Mexico on Monday May 18 following the government’s designation of mining as an essential activity.
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IN CASE YOU MISSED IT: 5 key stories from May 13

Base Metals Market - Thu, 05/14/2020 - 00:05
Here are five Fastmarkets stories you might have missed on Wednesday May 13 that are worth another look.
Categories: Metals Industry News

EU CARMAKER CLOSURES 13/05: Ford production resumes at all EU, UK sites

Base Metals Market - Wed, 05/13/2020 - 19:12
Car manufacturer Ford has announced that it intends to restart initial production at two plants in the UK and one in Valencia, Spain, from May 18, which will complete the restart of all its European units, it said on Wednesday May 13.
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LIVE FUTURES REPORT 13/05: LME lead price sinks to 4-year low; zinc follows lower

Base Metals Market - Wed, 05/13/2020 - 18:02
The three-month lead price on the London Metal Exchange was the underperformer at the close of trading on Wednesday May 13, slipping below nearby support levels against broad risk-off sentiment, while zinc futures similarly struggled over the afternoon.
Categories: Metals Industry News

Glencore, Anglo, Vale excluded from Norway’s $1 trln oil fund

Base Metals Market - Wed, 05/13/2020 - 17:30
Glencore, Anglo American and Vale have been excluded from Norway’s oil fund while BHP has been placed on an observation list as the $1.1 trillion fund tightens up its environmental, social and governance (ESG) requirements.
Categories: Metals Industry News

CHINA ALUMINIUM INGOT ADC 12 SNAPSHOT: China export market up on short supply from ex-China suppliers

Base Metals Market - Wed, 05/13/2020 - 16:18
Key data from the Wednesday May 13 pricing session in Singapore.
Categories: Metals Industry News

GLOBAL ZINC & LEAD WRAP: Premiums tick higher in Shanghai, North Europe; US market flat

Base Metals Market - Wed, 05/13/2020 - 16:10
Zinc premiums in Shanghai and Northern Europe were on an uptrend in the week to Tuesday May 12, driven by an open arbitrage window and increased liquidity in both markets, while the market in the United States remained subdued amid a continued slump in the country’s automotive sector.
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BASE METALS WARRANT REPORT 13/05

Base Metals Market - Wed, 05/13/2020 - 16:01
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 13.
Categories: Metals Industry News

Specialty metal powder producer Kymera furloughs employees over Covid-19

Base Metals Market - Wed, 05/13/2020 - 15:57
Kymera International, a global manufacturer of specialty metal powders, has furloughed an unspecified number of employees for an indeterminate time at various plants worldwide because of the Covid-19 pandemic, the North Carolina, United States-headquartered firm said.
Categories: Metals Industry News

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