World’s largest copper producer Codelco has appointed Nelson Pizarro as its new ceo, in a unanimous decision from the board announced by the company on Thursday July 31.
The London Metal Exchange copper prices were up during Asian morning trading on Friday August 1 on positive factory data from China.
Key metal price moves and stories to set you up for August 1.
Aluminium prices in China are expected to remain underpinned for the near-term as smelters are not keen to hedge yet, according to market participants.
Materials and technology group Umicore has set up a joint venture with China-based Vital Materials to meet rising indium tin oxide (ITO) demand from the “fast-expanding” large area display market in Asia.
CHINESE FUNDSWho were the Chinese funds behind copper’s Black Friday? What do they trade? How much are they worth? What gives them their edge? Find out here
Has the Fanya Metal Exchange removed volatility from the minor metals markets?
HOTTER ON METALS: LME, Rusal await Court of Appeal verdict
Changes to the London Metal Exchange’s warehousing rules could kick in by the end of the year if the exchange wins an appeal at the Court of Appeal in the UK this week.
HOTTER ON METALS: Russia needs the WTO
Sanctions would make life difficult, but not impossible, for Russian businesses. What might conceivably make life a lot harder would be if Russia got kicked out of the World Trade Organization (WTO).
HOTTER ON METALS: US sanctions? Get a licence
US sanctions impacting the Russian metals trade are not yet a reality, but let’s pretend they are.
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QINGDAO PROBE: Timeline of events, and potential consequences
Metal Bulletin's timeline of how the Qingdao scandal has unfolded and how the industry has responded.
Billet premium could bring aluminium production back online
The difference between the European aluminium ingot and billet premiums has grown by more than 50% this year, reflecting a sharp supply deficit in the billet market and raising the prospect of higher billet production in the near future.
Bank limits copper finance after ICBC moves to defer payment against LC
At least one western bank has stopped discount financing of copper into China after Industrial & Commercial Bank of China (ICBC) applied for the right not to settle a letter of credit it issued earlier this year, as a result of the Qingdao investigations, sources told Metal Bulletin.
WEEK-IN-BRIEF: ENRC marketing rights; silver fix; Chinese funds eye zinc; SRB cobalt purchases
It’s been a wild week on the Metal Bulletin news desk. Here, deputy editor Fleur Ritzema wraps up the key stories.
ENRC has held talks with world's top trading firms to outsource marketing
ENRC has held talks with five of the world’s largest metal trading firms to outsource marketing rights to its products in exchange for pre-financing of material, Metal Bulletin understands.
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