January 2022

Five key stories from January 13

Here are five Fastmarkets stories you might have missed on Thursday January 13 that are worth another look.

Alumina Atlantic differential narrows downward because of smelter cuts

The premium on alumina cargoes in Brazil compared with Australian units narrowed on Thursday January 13, with aluminium smelter output cuts across Europe leading to oversupply and poor demand for alumina units.

Copper remains above $10,000; nickel pushes through key level

Both copper and nickel have found support at key psychological marks on Thursday January 13.

Lower prices for all LME base metals bar tin following Wednesday rally

Most base metals futures prices on the London Metal Exchange weakened on the morning of Thursday January 13, with consolidation setting in following a bullish day on Wednesday. Tin was an exception, however, and was trading around its latest all-time peak.

Base metals prices consolidate after strong Wednesday performance

Base metals prices on the Shanghai Futures Exchange and the London Metal Exchange were mixed on the morning of Thursday January 13, but this was after generally strong performances a day earlier when copper breached the $10,000-per-tonne level for the first time since October.

Base metal warrants report for January 12

A summary of London Metal Exchange warrant premiums for the week to Wednesday January 12.

Copper closes above $10,000/t on LME, aluminium trades over $3,000/t

Base metals prices on the London Metal Exchange were mixed but largely trading up at the 5pm close on Wednesday January 12, with copper, nickel and aluminium reaching notable highs during the day.

Aluminium premiums trend higher globally across Europe, the US, Brazil and South Korea, bar Japan

Aluminium premiums rose across the world on Tuesday January 11 with thinner supply and steady consumption, while MJP premiums held on limited liquidity.

LME nickel rallies above $22,000/t; tin hits all-time high

Most base metals prices moved higher during morning trading on the London Metal Exchange on Wednesday January 12 following a strong close on Tuesday, with nickel reaching $22,145 per tonne, its highest since September 2011.

Base metals prices upbeat following last week’s dip buying

Base metals prices on the Shanghai Futures Exchanged registered strong gains on Wednesday January 12, building on the increases on the London Metal Exchange a day earlier. LME metals are having a mixed Wednesday morning, but they generally look upbeat, especially tin and nickel.