Copper is being shipped out of China, though: among the things
that Metal Bulletin's Andrea Hotter and Mark Burton learned in Santiago
was that shipments
have been sent as far as Rotterdam and Antwerp.
A large copper producer said that low copper prices after Black
Friday had encouraged customers to book business forward in a
manner not seen for years.
Why have investors lost faith
in copper producers?
An executive from one firm explained.
Oyu Tolgoi is back on track
, a Rio Tinto executive said.
Updates too from Codelco
A question raised
about Metal Bulletin's
TC/RC copper concentrate index: 'I've sold above/below your
copper TC/RC index. Why is the index so low/high?'
Metal Bulletin counted the value
of the current metal
trade between Russia and the USA and EU, mindful of the
possibility of further sanctions as Ukraine, the USA,
Russia and the EU prepared for talks in the week of April 14.
The USA imported aluminium and nickel products from Russia
worth well over $1 billion in 2013.
A survey of the US titanium industry prompted speculation
that it might be related to tensions with Russia over Ukraine.
Some mused that a strategic stockpile in the USA of titanium
sponge might be re-established as a result.
A US legislator ripped into the LME and the CFTC
result of the long queues for aluminium.
South Africa-based ores and alloys trading firm Metalmin Metals
& Minerals went into liquidation. Metal Bullletin's Janie
Davies broke the news
One of those creditors clawed back its cash
arrested a ship carrying chrome ore from Metalmin to a customer
in a South African port.
The ferro-chrome benchmark is late,
negotiating parties have failed to agree on the direction of
A battle has broken out
for the board of
Canada-based nickel and cobalt producer Sherritt, prompted by
the company's 2013 results. Disaffected shareholders have
proposed that the company consider replacing ceo David Pathe.
Read Andrea Hotter's interview with David Pathe
LME nickel has had a stellar year so far. Three-month nickel
prices contiinued their upward trajectory
settling at $17,440/45 per tonne on Friday April 11, on the
Indonesian ore ban.
A deficit could come as soon as the third quarter, Norilsk predicted
Commodities bank Macquarie moved forward its forecast of a deficit
too and said that
nickel ore in China might be tighter than expected.
And don't expect the Indonesian government to change its mind
on the export ban, one well-connected executive told MB
A fierce debate
about chrome ore prices took
place at Metal Bulletin's Asian Ferro-alloys Conference in Hong
Kong earlier this month.
Good demand, limited producer supplies and positive sentiment,
meanwhile is also driving ferro-molybdenum prices upwards in
Europe. Traders were targeting a price of $30 per
By Friday, prices had reached $30.20-30.50 per kg. The first
time the price had been above $30 since 2012.
Erdos meanwhile hopes that ferro-silicon prices have bottomed
out. Read the interview here
Minor metals have a hangover
, and it was revealed
that minor metals producer
Vital Materials and speciality chemicals manufacturer TIB are
among the companies interested in buying Floridienne Chimie.