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WEEK-IN-BRIEF: China's metal funds; Shanxi Coal exposed to Qingdao company; Qatalum's primary focus; death of senior Chinese copper exec

June 27, 2014 - 15:58 GMT Location: London

What metal stories and price moves have been on the agenda? Metal Bulletin editor Alex Harrison reviews the week

— Michael Overlander (@Moverlander) June 23, 2014 " target="_blank">asked how business on the floor can be developed.

Aluminium prices on the LME broke through $1,900 per tonne — and then moved down again.

The ceo of a large smelter in the Gulf told Metal Bulletin’s Jethro Wookey that his company’s focus would remain on primary.

He was talking at about the same time that Alcoa spent $2.85 billion to buy a downstream company in the aerospace sector.

Third-quarter aluminium premiums in Japan have now been settled at levels between $400 and $405 per tonne cif, well up on the levels of the second quarter. Check out the recent spot premium levels in Japan here.

Ferro-molybdenum prices in Europe slid lower through the week on trader liquidation, while molybdic oxide in China was also under pressure.

A prospector in Australia has switched from gold to zinc.

Glencore appointed senior Sherritt executive Patrice Merrin as a non-exec.

Jianhong Wei, the chairman and ceo of Tongling Nonferrous, one of China’s largest copper smelters, died in a fall from a building, believed to have been a suicide.

Alex Harrison 
aharrison@metalbulletin.com
Twitter: @alexharrison_mb

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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