March 2019

US twitch-A380.1 price spread slims to 20-month low

Gains in non-ferrous auto shred (twitch) prices in the United States have whittled the spread to benchmark A380.1 aluminium to an over 20-month low.

SECTION 232: A year full of legal challenges

The implementation of tariffs and quotas against US steel and aluminium imports has been heralded and criticized as an unusual trade remedy, with President Donald Trump's administration applying blanket duties rather than more focused - and more typical - anti-dumping and countervailing margins.

SECTION 232: One year later, hits and misses

As of March 23, it has been a full year since US President Donald Trump’s administration imposed tariffs against imported steel and aluminium under Section 232 of the Trade Expansion Act of 1962, which allows the president to place restrictions on imports on national security grounds.

LIVE FUTURES REPORT 22/03: LME copper price dips 1.7% amid poor PMI data

Copper’s three-month price on the London Metal Exchange was lower at the close of trading on Friday March 22, ending the week down more than 3% and closing just above $6,300 per tonne.

ALUMINA SNAPSHOT: Index moves to highest since Dec 2018 ahead of Fastmarkets conference

Fastmarkets’ alumina index fob Australia moved to its highest level since early December due to unrelenting market tightness.

ICBC revises all base metals price forecasts lower for 2019 on negative macroeconomic indicators

The Industrial and Commercial Bank of China (ICBC) has revised its base metals price forecasts lower across the board for 2019 in its latest base metals outlook report, specifying global recession fears and a rising macro-financial tide in its adjustments.

Hydro disagreement with Brazil authorities puts bauxite production at stake [UPDATE]

A conflict between Norwegian aluminium group Norsk Hydro and the Brazilian federal prosecutors’ office, MPF, could put the company’s bauxite production in the Northern state of Pará at risk.

LIVE FUTURES REPORT 22/03: Comex copper depressed in final session amid surging dollar

Comex copper prices failed to hold onto previous gains on Friday March 22, with a stronger dollar and concerns over global economic growth weighing on the base metals complex.

SHFE STOCKS REPORT 22/03: Base metals stocks show divergent movement

Base metal stocks on Shanghai Futures Exchange-approved warehouses showed divergent trends during the week ending Friday March 22, with zinc stocks falling by 6.5% but those of aluminium, tin and lead rising.

Aluminium warrant premiums in Korea rise sharply amid warehouse outflows

Warrant traders are reporting a big spike in Korean aluminium warrant premiums amid a substantial supply shortage in the region, Fastmarkets understands.