Primary aluminium production still has a future in western regions, as the power cost advantage enjoyed by Middle Eastern companies will diminish, Norsk Hydro cfo Eivind Kallevik told Metal Bulletin.
Credit Suisse’s withdrawal from commodities markets is the latest factor that will widen what some London Metal Exhange brokers describe as the gap.
Rio Tinto plc will be involved in talks between Freeport McMoRan Copper & Gold and the Indonesian government over plans to build a smelter in the Southeast Asian country, Freeport ceo Richard Adkerson said.
Some of Kazakhstan-based producer ENRC's ferro-chrome is being sold to its customers through Telf AG, a Switzerland-based company, market sources said.
Freeport McMoRan Copper & Gold expects “imminently” to sign a Memorandum of Understanding with the Indonesian government, allowing copper concentrate exports to resume.
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: Commodities was Credit Suisse's sacrificial lamb
Commodities has become Credit Suisse’ sacrificial lamb, with the bank set to wind down the roughly 80-person business over the next couple of months.
LORD COPPER: Broad-in-boom BHP Billiton now wants to narrow
Over the last decade or so, the second-best performing major company equity has been BHP Billiton.
HOTTER ON METALS: Banking on the BRICS
Brazil may have been spectacularly defeated in the World Cup, but it scored a winning goal in Fortaleza this week.
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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.
China’s metal funds: where do they come from? And where are they going? [UPDATE]
The founders of the commodity hedge funds in China that seized the attention of the global metal markets in such a dramatic fashion in March had a long history of trading local futures markets in China before they entered the international markets: in copper and in cotton, for example.
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