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IN CASE YOU MISSED IT: 5 key stories from October 23

1 hour 31 min ago
Here are five Fastmarkets MB stories you might have missed on Wednesday October 23 that are worth another look.
Categories: Metals Industry News

Less demand from US, Europe to create aluminium surplus in 2020, Hydro says

Wed, 10/23/2019 - 20:30
Expectations of growth in aluminium demand are deteriorating, particularly in Europe and North America, and coupled with higher supply from China they will lead to a metal surplus in 2020, Norsk Hydro chief executive officer Hilde Merete Aasheim said on Wednesday October 23.
Categories: Metals Industry News

Chinese non-ferrous scrap imports set for 4-month standstill as buyers delay shipments to Feb 2020

Wed, 10/23/2019 - 18:47
China’s non-ferrous scrap imports will come to a standstill in the next four months, because major buyers have used up their 2019 import quotas and new quotas are unlikely to be granted before the lunar new year in late January, industry sources have said.
Categories: Metals Industry News

Peñasquito will return to full capacity in 10 days as post-blockade ramp-up starts

Wed, 10/23/2019 - 18:18
Operations at the Peñasquito lead-zinc-gold mine in Mexico should return to full capacity in the next 10 days following the resumption of production there.
Categories: Metals Industry News

LIVE FUTURES REPORT 23/10: LME copper price climbs 1% toward $5,900/t; tin price lags

Wed, 10/23/2019 - 18:02
The three-month copper price on the London Metal Exchange rose to its highest level in more than a month at the close of trading on Wednesday October 23 amid positive forward spreads, while tin futures underperformed in a 2% decline over the afternoon.
Categories: Metals Industry News

GLOBAL NICKEL WRAP: Volatile nickel price, spread action precludes buyer activity

Wed, 10/23/2019 - 17:53
Buyers in all regions stayed on the sidelines in the week to Tuesday October 22 amid London Metal Exchange nickel price and spread volatility.
Categories: Metals Industry News

GLOBAL ZINC & LEAD WRAP: Uptick in Southeast Asian lead interest pushes premium up 4%

Wed, 10/23/2019 - 16:42
The Southeast Asian lead premium rose by 4.2% week on week on increased spot interest, with market participants suggesting an uptick in automotive sales as a key tailwind; meanwhile, global zinc premiums were unchanged amid stagnant spot demand and tight forward spreads.
Categories: Metals Industry News

BASE METALS WARRANT REPORT 23/10

Wed, 10/23/2019 - 16:18
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 23.
Categories: Metals Industry News

Copper producer Taseko Mines to list on London Stock Exchange

Wed, 10/23/2019 - 16:00
Taseko Mines Limited is in the process of seeking a listing on the Main Market of the London Stock Exchange (LSE), with approval anticipated prior to the end of 2019.
Categories: Metals Industry News

Codelco copper units hit by Chilean strike action

Wed, 10/23/2019 - 15:35
Two of Codelco’s divisions are operating at minimum rates or have been completely halted due to a general strike in Chile, the state-owned copper producer said on Wednesday October 23.
Categories: Metals Industry News

Global refined copper balance to shift to surplus in 2020 - ICSG

Wed, 10/23/2019 - 14:25
The global refined copper balance will switch from a deficit this year to a surplus next year on an expansion in Chinese refining capacity and a slowdown in global economic growth, the International Copper Study Group (ICSG) said on Wednesday October 23.
Categories: Metals Industry News

LME WEEK 2019: Aluminium traders eye 'perfect storm' to cash and carry in 2020

Wed, 10/23/2019 - 14:02
A combination of weak macroeconomics and an anticipated increase of global aluminium supply is prompting expectations that more participants will purchase metal with the intention of holding and financing it for long-term gain.
Categories: Metals Industry News

Ramu nickel-cobalt mine to shut down during pollution investigation

Wed, 10/23/2019 - 13:42
The Ramu nickel-cobalt project in northeast Papua New Guinea is to close imminently pending an environmental investigation, the region’s minister for mining Johnson Tuke confirmed on Wednesday October 23.
Categories: Metals Industry News

Chile's main copper unions to join general strike

Wed, 10/23/2019 - 12:59
Most of the workers’ unions representing the Chilean mining industry have said they will participate in a general nation-wide strike scheduled for October 23-24 following the federal government’s response to street demonstrations against higher public service costs.
Categories: Metals Industry News

Eramet's nickel production soars 21% in Q3 2019

Wed, 10/23/2019 - 12:10
French multi-metal miner Eramet has achieved record nickel production results for the third quarter of 2019 courtesy of a series of safe-guarding and ramp-up measures undertaken across some of its key projects, the company said in an October 23 press release.
Categories: Metals Industry News

ANTOFAGASTA AT A GLANCE: Q3 2019 production results

Wed, 10/23/2019 - 11:20
A summary of Antofagasta’s production results for the third quarter of 2019 following the company’s results report released on Wednesday October 23.
Categories: Metals Industry News

GLOBAL ALUMINIUM WRAP: Rotterdam duty-unpaid premium slides again amid bearish sentiment

Wed, 10/23/2019 - 10:20
The benchmark duty-unpaid premium in the Dutch port of Rotterdam has fallen for a fourth consecutive week, with persistent backwardations in London Metal Exchange forward price spreads continuing to fuel bearish sentiment in the market.
Categories: Metals Industry News

Hydro's Alunorte ops rise to 83% capacity; Q3 earnings down on depressed prices

Wed, 10/23/2019 - 10:18
Alunorte alumina refinery’s utilization rate reached 83% of its capacity in the third quarter following the end to federal court-imposed embargoes, owner Norsk Hydro said on Wednesday October 23.
Categories: Metals Industry News

LIVE FUTURES REPORT 23/10: LME nickel falls 1% despite drawdowns; C/3M contango persists

Wed, 10/23/2019 - 09:33
The London Metal Exchange three-month nickel price was trading down 1% at around $16,330 per tonne during the morning session on Thursday October 23, with persistent drawdowns failing to give support to nickel futures.
Categories: Metals Industry News

LME WEEK 2019: Backwardations normal market feature but technical squeezes should not be - LME CEO

Wed, 10/23/2019 - 09:22
There have been a significant number of large backwardations on London Metal Exchange futures contracts throughout 2019 and questions have been raised about whether the exchange’s spreads truly reflect the fundamentals of the market.
Categories: Metals Industry News

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