May 2022

Base metals consolidate on LME, stock levels continue to move lower

Base metal prices on the London Metal Exchange (LME) were mixed but largely unchanged near 9am on Thursday May 26.

Base metals’ rebounds pause as global slowdown concerns dominate

Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were mainly weaker on the morning of Thursday May 26 amid a lack of direction.

Five key stories from May 25

Here are five Fastmarkets stories you might have missed on Wednesday May 25 that are worth another look.

Will logistics issues keep European aluminium spot premiums high despite lower Q3 deals?

Market participants were mixed on the outlook for aluminium premiums in Europe on Tuesday May 24, with forward deals trading at lower levels but logistics issues still plaguing the market.

Most ‘nervous’ LME base metals prices fall again but nickel bucks trend

Base metals prices on the London Metal Exchange were mostly lower day on day at the close of trading on Wednesday May 25, with the market still nervous about demand.

Hydro welcomes provisional UK anti-dumping duties on aluminium extrusions from China

Norsk Hydro welcomes the United Kingdom’s Trade Remedies Authority’s (TRA) intention to impose provisional anti-dumping duties on aluminium extrusions originating from China, the producer said on Monday May 23.

Aluminium added to WEF coalition to decarbonize industries

Automotive companies Ford Motor Company and Volvo Group, aluminium companies Ball Corporation and Novelis, and commodities merchant Trafigura have become founding members of a coalition committing to have near-zero carbon emissions from 10% of their primary aluminium purchases by 2030.

LME base metals open lower across the complex

Base metal prices on the London Metal Exchange opened lower on Wednesday May 25, continuing the recent downward trend across the complex.

Brazil lowers import duties by another 10%; steel cut to 9.6%, aluminium to 4.8%

Brazilian foreign trade chamber Camex has decided to cut import duties by an additional 10% until the end of 2023 after having already reduced tariffs by 10% in November 2021, according to a document published in the country’s official gazette on Tuesday May 24.

Downtrend hits most global aluminium premiums

Aluminium premiums in all regions were mostly down in the week to Tuesday May 24, even with the price of metal rising and global stocks falling.