August 2020

IN CASE YOU MISSED IT: 5 key stories from August 7

Here are five Fastmarkets stories you might have missed on Friday August 7 that are worth another look.

US Midwest aluminium premium logs record jump on Section 232 news

The Midwest aluminium premium soared by 5 cents on Friday August 7, logging its largest increase since Fastmarkets began assessing this premium in January 2003, with traders boosting offers on replacement cost considerations after the US reintroduced Section 232 tariffs on Canadian aluminium.

US aluminium scrap prices tick up on steady demand

Secondary aluminium scrap prices in the United States rose week on week amid a slight uptick in business and some pricing pressure from exports, although consumers were still being cautious.

LIVE FUTURES REPORT 07/08: LME copper price sinks 3% on news of Codelco restart; lead falls 2%

The three-month copper price on the London Metal Exchange was the laggard at the close of trading on Friday August 7, with news of planned restarts at several of Chilean producer Codelco’s operating facilities suppressing buying momentum.

Europe aluminium premiums stable but all eyes on Canadian tariffs

The return of Section 232 tariffs on imports of Canadian aluminium has made European market participants nervous of excess stock arriving from Canada, which could pressure premiums, Fastmarkets heard on Friday August 7.

SHFE STOCKS REPORT 07/08: Copper stocks up 8.1%; zinc down 4.4%

Deliverable copper stocks at Shanghai Futures Exchange-approved warehouses increased by 12,942 tonnes (8.1%) to 172,455 tonnes in the week to Friday August 7, marking the largest gain in percentage terms across the base metals complex.

LIVE FUTURES REPORT 07/08: LME copper price slides 1% amid spread tightness; German export numbers impress

The three-month copper price on the London Metal Exchange was lower during morning trading on Friday August 7, with continued tightness across the front end of the metal’s forward curve deterring interest, while a marked improvement in German industrial production remains a key indicator of improving economic conditions in Europe.

More closures, layoffs sting metals in US, WARN notices show [CORRECTED]

A roundup of layoff announcements contained in Worker Adjustment and Retraining Notice (WARN) Act letters filed to state labor agencies in the United States thus far this summer, including at least six full plant closures, indexed by sector:

IN CASE YOU MISSED IT: 5 key stories from August 6

Here are five Fastmarkets stories you might have missed on Thursday August 6 that are worth another look.

Aluminium market reacts to renewed Section 232 duties vs Canada

Aluminium industry participants - many of which lobbied against Section 232 tariffs - respond to US President Donald Trump’s decision to reinstate the tariffs on imports of non-alloyed unwrought aluminium from Canada.