NON-FERROUS WEEK IN BRIEF: LME copper backwardation eases amid 44kt inflow; Decade-low zinc stocks prompt wide backwardation; US Al scrap prices drop; Chinese cobalt prices fall; Manganese ore production climbs 1.4%

Fastmarkets rounds up some of the key news and price moves across the global metals markets this week.

Base metals A massive backwardation on copper forward price spreads on the London Metal Exchange has collapsed after market tightness eased thanks to delivery of 44,950 tonnes of metal into exchange-listed warehouses. Brazilian multi-metals producer Nexa Resources has maintained its production and sales estimates for full-year 2018, although metal prices are down, chief executive officer Tito Martins said Zinc stocks on the London Metal Exchange were at a 10-year low on Thursday November 1, prompting one of the metal’s widest cash/three-month...

Published

Hassan Butt

November 02, 2018

17:58 GMT

London