July 2021

US Midwest aluminium premium jumps by 2¢/lb to fresh high

The United States Midwest aluminium premium hit another all-time high on Friday July 30, with bullish sellers boosting their offers after a workers’ strike forced Rio Tinto to cut output at its Kitimat smelter in Canada.

ALUMINIUM BILLET WRAP: Premiums rise in Europe, Brazil

Aluminium 6063 billet premiums climbed in Europe and Brazil on Friday July 30, while premiums in the United States and Asia were steady. Supply contract negotiations for 2022 have started, but high freight rates and a Russian export tax are likely to complicate talks.

Shanghai bonded copper stocks turn downward but aluminium inventories up 55%

The volume of copper stocks held in Shanghai bonded warehouses has fallen from a 23-month high in mid-July because of an improving arbitrage window between London and Shanghai, Fastmarkets heard on Friday July 30.

LIVE FUTURES: Aluminium rises 5.3% in July to new year-to-date peak, tin at new all-time high

Spurred on by supply tightness and steady demand, the aluminium three-month price on the London Metal Exchange rose to a new 2021 high of $2,642 per tonne on July 30, while tin and nickel's three-month price, also supported by strained fundamentals, rose over 10% in July.

Yunnan Shenhuo to lose 50,000t of aluminium output due to power cuts

Chinese aluminium producer Yunnan Shenhuo will cut its output by 50,000 tonnes because of the latest round of power restrictions announced by local power supplier Yunnan Power Grid on July 27.

SHFE STOCKS REPORT 30/07: Most base metals inventories down bar lead, nickel

Most base metals registered declines in inventories at Shanghai Futures Exchange-registered warehouses during the week to Friday July 30, although lead was up by 6.5% and nickel rose by 1.5%.

LIVE FUTURES 30/07: New 2021 high for LME aluminium; zinc above $3,000/t

The three-month aluminium contract on the London Metal Exchange hit a new year-to-date high of $2,615 per tonne in morning trading on Friday July 30, while zinc moved back above the $3,000-per-tonne psychological level.

PRICING NOTICE: Proposal to update Fastmarkets Metals & Mining assessment methodology

Fastmarkets is launching a one-month consultation on several proposed updates to the wording of its assessment methodology.

LIVE FUTURES 29/07: Aluminium at two-month high, all LME prices strengthen before month-end

The London Metal Exchange’s base metals prices were robust at the close of trading on Thursday July 29, supported in part by a US Dollar Index that reached its lowest since June 29 and fundamental factors affecting the metals themselves.

Henan’s impaired railway restricts aluminium delivery

Aluminium delivery from northern China through central China remains restricted due to flooding in Hennan, with a section of the Longhai Line railway under repair, sources told Fastmarkets.