GLOBAL ALUMINIUM WRAP: European premiums boosted by sustained contango
(MB) Aluminium premiums in Europe ticked higher in the week ended Tuesday March 5, finding support from sustained contangoes in London Metal Exchange forward price spreads. The spot premium in Japan was similarly up on a weekly basis with the first premium offers for aluminium supply to the country in the second quarter coming in […]
Devisen: Euro gibt weiter nach – australischer Dollar unter Druck
FRANKFURT (dpa-AFX) – Der Euro hat am Mittwoch an die Kursverluste vom Vortag angeknüpft. Im Vormittagshandel ging es aber nur noch leicht nach unten. Die Gemeinschaftswährung kostete zuletzt rund 1,13 US-Dollar. Die Europäische Zentralbank (EZB) hatte den Referenzkurs am Dienstagnachmittag auf 1,1329 Dollar festgesetzt. Am Vortag hatten besser als erwartet ausgefallene US-Konjunkturdaten dem Dollar Auftrieb […]
Devisen: Euro gibt weiter nach – australischer Dollar unter Druck
FRANKFURT (dpa-AFX) – Der Euro hat am Mittwoch an die Kursverluste vom Vortag angeknüpft. Im Vormittagshandel ging es aber nur noch leicht nach unten. Die Gemeinschaftswährung kostete zuletzt rund 1,13 US-Dollar. Die Europäische Zentralbank (EZB) hatte den Referenzkurs am Dienstagnachmittag auf 1,1329 Dollar festgesetzt. Am Vortag hatten besser als erwartet ausgefallene US-Konjunkturdaten dem Dollar Auftrieb […]
GLOBAL COPPER WRAP: Shanghai premium softens again
(MB) The Shanghai copper premium fell to yet another fresh low in the week ended Tuesday March 5, with high domestic stocks and a steep backwardation in the London Metal Exchange’s cash/three-month spread continuing to pressure the market. Premiums in Southeast Asia were similarly weaker over the past week, while those in Europe and the […]
Metals prices consolidate as buyers stop chasing prices higher
Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Wednesday March 6. With the exception of aluminium that was little changed, the rest of the complex were down between 0.2% for nickel and tin and 0.9% for zinc. Copper was off by 0.4% at $6,456 per tonne, […]
Two Q2 MJP aluminium deals done at $105/t
(MB) A Japanese consumer has concluded deals with two major aluminium producers for April-June delivery to main Japanese ports (MJP) at a premium of $105 per tonne cif over the London Metal Exchange cash price, the consumer confirmed to Fastmarkets on Wednesday March 5.The consumer booked 2,000 tonnes per month of aluminium from one producer […]
Vedanta Zinc International officially open Gamsberg zinc mine in South Africa
The mine has a reserve and resource of over 214 million tonnes with a grade range of 6 to 6.5 percent zinc and an estimated mine life of over 30 years. On Thursday (February 28), phase 1 of the operation kicked off, which is set to produce 4 million tonnes per year of ore from […]
Platinum market set for biggest surplus in at least 6 years
LONDON, March 6 (Reuters) – The global platinum market will see its largest surplus since at least 2013 this year, the World Platinum Investment Council (WPIC) said on Wednesday. In its latest Platinum Quarterly report, the WPIC forecast an oversupply of 680,000 ounces in 2019 after a surplus of 645,000 ounces last year. It said […]
Chile’s Chuquicamata underground copper mine to start this year
SANTIAGO (Reuters) – Chile’s Chuquicamata underground copper mine is due to start operations in middle of this year, the state copper miner Codelco’s chairman said on Wednesday. Chairman Juan Benavides said the start-up will be “a fundamental step and milestone in this structural overhaul” of Codelco. Codelco, which produces nearly 10 percent of the world’s […]
US copper market braces for influx of Chinese cathode
The US spot copper premium, which has held at a four-year high since July 2018, could come under pressure from an anticipated influx of Chinese material, market participants told Fastmarkets AMM. Fastmarkets AMM assessed the US copper cathode premium steady at 7-7.5 cents per lb delivered to the Midwest on Tuesday March 5; the premium is […]
