Chile studying possible lithium trade on LME

Oct 10 (Reuters) – Chile has called for lithium to be traded on the London Metals Exchange to provide greater “clarity” about its value, mining minister Baldo Prokurica said on Wednesday. At present, lithium producers negotiate contracts with buyers but the terms of the deals are not made public. Critics say this lack of clarity […]

Aurubis says Wieland deal may fail amid EU scrutiny

BERLIN/LONDON, Oct 10 (Reuters) – Aurubis AG, Europe’s biggest copper smelter, said on Wednesday its plan to sell its flat rolled copper products business to Germany’s Wieland-Werke AG could fail as European antitrust authorities were likely to request new conditions. “Based on its preliminary assessment, the European Commission, in order to clear the transaction, would […]

Rio Tinto to restart sale of Icelandic aluminium plant – sources

LONDON, Oct 10 (Reuters) – Rio Tinto is close to restarting a sale process for some of its aluminium assets, including a plant in Iceland, which have been valued at around $350 million, two sources familiar with the matter said. The assets include a 53 percent stake in a Dutch anode facility and 50 percent […]

Zinc dips after nearing 3-month high as supplies tighten

LONDON, Oct 10 (Reuters) – Zinc dipped on Wednesday, having earlier risen back towards the 3-month high reached last week on shrinking inventories and as smelter cuts in China lifted the market. Zinc inventories in LME-registered warehouses fell to 194,575 tonnes from more than 250,000 tonnes in August and are nearing 10-year lows. Stockpiles in […]

Competition rising for LME’s copper dominance

Bloomberg reported that bourses trying to muscle into a copper market dominated by the LME are getting a helping hand from options. As is the case for copper futures, the London Metal Exchange has been the go-to marketplace for options since starting them decades ago. While the bourse is by far still the biggest venue […]

BP CEO: Rusal-like sanctions on Rosneft would shut Europe energy system

LONDON, Oct 10 (Reuters) – BP Chief Executive Bob Dudley said if the United States imposed sanctions on Russian energy firms Gazprom and Rosneft such as it did on aluminium producer Rusal, it would virtually shut down Europe’s energy systems. BP is the second-biggest shareholder in Rosneft at 19.75 percent. Speaking on Wednesday at an […]

Devisen: Eurokurs legt etwas zu

FRANKFURT (dpa-AFX) – Der Kurs des Euro ist am Mittwoch leicht gestiegen. Am Morgen wurde die Gemeinschaftswährung mit 1,1510 US-Dollar knapp über der Marke von 1,15 Dollar gehandelt und damit etwas höher als am Vorabend. Die Europäische Zentralbank (EZB) hatte den Referenzkurs zuletzt am Dienstagnachmittag auf 1,1435 Dollar festgesetzt. Nachdem der Euro am Dienstag bei […]

Chile copper output falls 7 pct in August

euters reported that Chile’s copper production fell by 7 percent in August compared with the same month last year due to a drop in output at state copper firm Codelco and Escondida, Cochilco. Government agency that oversees the red metal, said that Chile produced 462,000 tonnes of copper in August, compared with 496,600 in August […]

Romanian aluminium smelter Alro plans USD 61 milion investments in 2018

See News reported that Romanian aluminium smelter Alro said on Tuesday it is continuing its USD 61 million investment programme this year, focusing on extending client portfolio, enhancing the hot rolled products quality and reducing energy dependency. It informed Bucharest Stock Exchange BVB “The optimisation of the products mix and the quality increase, along with […]

Shanghai zinc hits near 4-month top as supplies tighten, LME prices flat

Oct 10 (Reuters) – Shanghai zinc jumped more than 2 percent on Wednesday, hitting its highest in almost four months as output cuts in China lifted the market although prices in London ticked lower after rallying in the last session. London copper eased after climbing almost 2 percent on Tuesday on tightening world supplies. ZINC: […]

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