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Metals Industry News

Low copper price is temporary dip, not reflective of tight fundamentals - Codelco

Base Metals Market - Fri, 05/03/2019 - 17:50
This recent drop in copper prices is not reflective of the current tight supply and demand fundamentals and a rebound could take place as soon as next week, Codelco’s chief commercial officer Roberto Ecclefield told Fastmarkets on Friday May 3.
Categories: Metals Industry News

LME tin price falling despite record low stock levels, supply concerns but rebound uncertain

Base Metals Market - Fri, 05/03/2019 - 17:49
The dip in tin prices over the past two months reflects technical factors and a drop in semiconductor sales but a rebound is hard to envision despite an largely solid fundamental backdrop.
Categories: Metals Industry News

Aggressive tender numbers push copper TCs under 2013 low; smelter-trader purchase gap widest in 1yr

Base Metals Market - Fri, 05/03/2019 - 17:25
Copper concentrates treatment charges (TCs) declined in early May after traders accepted recent tender tonnages at surprisingly low levels, which stretched the gap between acceptable purchase levels for traders and smelters to its widest in the past year.
Categories: Metals Industry News

LIVE FUTURES REPORT 03/05: Comex copper price rebounds in final session

Base Metals Market - Fri, 05/03/2019 - 16:00
Comex exchange copper prices recovered in morning trading in the United States on Friday May 3, after the April US jobs report showed strong data, raising spirits in the equity markets.
Categories: Metals Industry News

Alumina prices plummet despite continued Alunorte absence

Base Metals Market - Fri, 05/03/2019 - 12:10
Benchmark alumina prices are now trading at their lowest in over a year due to lack of buying appetite and excess cargoes in the market for May and June.
Categories: Metals Industry News

LIVE FUTURES REPORT 03/05: LME aluminium holds above $1,800/t despite 26kt inflow; nickel nears $12,000/t

Base Metals Market - Fri, 05/03/2019 - 10:29
Aluminium’s three-month price on the London Metal Exchange consolidated during morning trading on Friday May 3, with fresh inflows of more than 26,000 tonnes doing little to pressure the light metal’s stagnant price, while low liquidity conditions capped volumes traded.
Categories: Metals Industry News

IN CASE YOU MISSED IT: 5 key stories from May 2

Base Metals Market - Fri, 05/03/2019 - 00:05
Here are five Fastmarkets MB stories you might have missed on Thursday May 2 that are worth another look.
Categories: Metals Industry News

Workers reach agreement, end strike at Minsur's San Rafael mine in Peru

Base Metals Market - Thu, 05/02/2019 - 23:07
Peruvian tin producer Minsur resumed normal operations at its San Rafael mine in the southern province of Melgar, following the end of a workers’ strike that was first announced on April 30, the company said on Wednesday May 1.
Categories: Metals Industry News

Zinc TCs to remain high through 2019, Nexa CEO says

Base Metals Market - Thu, 05/02/2019 - 19:31
Zinc spot treatment charges (TCs) were expected to remain at their current high levels through the rest of 2019, because additional Chinese smelting capacity will only come online next year, Nexa Resources’ chief executive officer Tito Martins told investors on Thursday May 2.
Categories: Metals Industry News

Braidy-Rusal joint-venture mill wins BMW aluminium sheet contract

Base Metals Market - Thu, 05/02/2019 - 18:56
BMW Group has chosen Braidy Atlas - the joint-venture project between Russian aluminium producer UC Rusal and US holding company Braidy Industries - to supply aluminium sheet for North American manufacturing, due the venture’s focus on a low-carbon footprint and using “green” inputs, Braidy Industries’ top executive told Fastmarkets AMM.
Categories: Metals Industry News

LIVE FUTURES REPORT 02/05: Selling momentum sends LME copper price below $6,200/t; tin hits fresh 2019 low

Base Metals Market - Thu, 05/02/2019 - 18:09
Copper continued its sell-off on the London Metal Exchange on Thursday May 2, with the absence of Asian markets a key factor in the downturn while strength in the US dollar caps commodity investment.
Categories: Metals Industry News

FASTMARKETS MB DAILY PDFs

Base Metals Market - Thu, 05/02/2019 - 18:06
Daily PDFs will be downloadable until Monday May 6. After that, because of the UK’s early May bank holiday, the next daily PDF will be downloadable on Wednesday May 8.
Categories: Metals Industry News

Battle for zinc price accelerates, bears target June downside with big option bets

Base Metals Market - Thu, 05/02/2019 - 16:55
Zinc bears are betting that the London Metal Exchange zinc price will fall to $2,500 per tonne in June, with massive orders for put options placed in recent weeks, Fastmarkets learned.
Categories: Metals Industry News

LIVE FUTURES REPORT 02/05: Comex copper extends selloff, dollar recovers

Base Metals Market - Thu, 05/02/2019 - 15:40
Comex copper prices sank further in morning trading on Thursday May 2 in the United States after a 3% selloff yesterday fueled by increased warehousing inflows, weak global data and a stronger dollar.
Categories: Metals Industry News

PEOPLE MOVES: Metals trader Evan Richards to leave ICBC Standard Bank

Base Metals Market - Thu, 05/02/2019 - 14:15
Base metals trader and head of funding and inventory Evan Richards is leaving ICBC Standard Bank after just eight months at the company, Fastmarkets learned on Thursday May 2.
Categories: Metals Industry News

APEX Q1 2019: 99% accuracy for Q1 Al, Cu, Ag, iron ore price predictions

Base Metals Market - Thu, 05/02/2019 - 10:35
Fastmarkets topped the base metals leaderboard in the Apex first-quarter 2019 contest, with an accuracy rating of 98.41%, while Edward Meir of INTL FCStone was top of the precious metals table with 97.45% accuracy.
Categories: Metals Industry News

LIVE FUTURES REPORT 02/05: LME base metals consolidate after neutral Fed tone; Al ignores 90kt inflow

Base Metals Market - Thu, 05/02/2019 - 10:25
Base metals prices on the London Metal Exchange consolidated during morning trading on Thursday May 2, with prices broadly range bound following the US Federal Reserve’s decision to keep interest rates unchanged.
Categories: Metals Industry News

IN CASE YOU MISSED IT: 5 key stories from May 1

Base Metals Market - Thu, 05/02/2019 - 00:05
Here are five Fastmarkets MB stories you might have missed on Wednesday May 1 that are worth another look.
Categories: Metals Industry News

GLOBAL ZINC & LEAD WRAP: Indian lead premiums rise on monsoon buying, zinc unchanged

Base Metals Market - Wed, 05/01/2019 - 21:14
The premium to be paid on purchases of lead ingots went up in India over the week ended Wednesday May 1, with buying spurred by low exchange rates before the imminent beginning of the monsoon season. Elsewhere, physical zinc premiums remained low in Europe, with sales prompted by record-high backwardations in the forward price.
Categories: Metals Industry News

BASE METALS WARRANT REPORT 01/05

Base Metals Market - Wed, 05/01/2019 - 19:09
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 1.
Categories: Metals Industry News

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