May 2012

Glencore, Xstrata set July dates for shareholder merger vote

Glencore and Xstrata shareholders will vote on the proposed merger of the two companies on July 11 and 12 respectively, the companies announced on Thursday May 31.

CLOSE TO CLOSE: Copper prices at fresh year-to-date lows in LME kerb

Copper prices finished at fresh year-to-date lows in kerb trading on the London Metal Exchange on Thursday May 31, as disappointing US data contributed to a further slide in the euro in the afternoon.

LME copper prices under pressure after US data

Copper prices were holding above their opening levels in official trading on the London Metal Exchange on Thursday May 31, but came under pressure in the afternoon after US unemployment data came in below expectations.

Five major Chinese alumina smelters call for industrial output cut

Five major Chinese alumina smelters have jointly called on local peers to reduce output by 10% from June, in the hope of stabilising the market.

Shanghai base metals prices fall on eurozone worries

Shanghai Futures Exchange copper fell by 1.6% on Thursday May 31 as mounting concerns over the continued debt crisis in Europe weighed on metals prices.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*

Midwest aluminum billet premiums remain firm

Strong demand and limited supply in aluminum billet markets has kept spot premiums high.

CLOSE TO CLOSE: Copper prices close at five-month lows as hopes fade for Chinese stimulus, Spanish rescue

Copper prices closed down 2.7% on a close-to-close basis on Wednesday May 30 as hopes for a wide-ranging Chinese stimulus programme faded, alongside those for a government-backed rescue of Spain’s banking sector.

BIR CONVENTION: Tough times ahead for Europe's secondary aluminium market

The European secondary aluminium industry is facing a crisis as material shortages reign, and more and more companies are faced with stoppages and cutbacks.

MEIR ON METALS: Markets are slammed as Europe remains rudderless

Analyst Ed Meir looks at what is moving the metal markets on Wednesday May 30.