February 2021

More Chinese copper scrap surfaces amid price rally, dampens import interest

Copper scrap yards across China are keen to offload their stock following a recent rally in the red metal price, dampening Chinese buyers’ interest in overseas materials.

MORNING VIEW: Cu, Al, Sn prices steam ahead, others consolidate

Apart from nickel on the London Metal Exchange, the rest of the base metals on both the LME and Shanghai Futures Exchange were once again stronger this morning, Thursday February 25.

AT A GLANCE: Arconic’s 2020 sales down on Covid-19, Boeing 737-Max headwinds

A summary of Arconic Corp’s fourth-quarter and full-year 2020 earnings results.

IN CASE YOU MISSED IT: 5 key stories from February 24

Here are five Fastmarkets stories you might have missed on Wednesday February 24 that are worth another look.

GLOBAL TIN WRAP: Taiwan, US tin premiums continue uptrend; Rotterdam premium spikes 22%

Global tin ingot premiums notched significant increases in the two weeks to Tuesday February 23, with premiums in both the United States and Taiwan reaching new highs; at the same time, tight global tin supply has begun affecting European business, prompting a 22% rise in the Rotterdam ingot premium.

BASE METALS WARRANT REPORT 24/02

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 24.

LIVE FUTURES REPORT 24/02: Nickel up 1.8%, aluminium above $2,180, bulls still in charge

Bullish sentiment returned to the London Metal Exchange during afternoon trading on Wednesday February 24, with nickel up by 1.8%, aluminium setting a new 2021 high, and most metals closing higher than on Tuesday following a limited period of selling and consolidation after new 2021 highs.

Nickel prices react to two partial shutdowns at Norilsk mines

Nickel futures prices in London rose on Wednesday February 24 after the world's top producer, Norilsk Nickel, announced it had suspended production at two of its mines: Oktyabrsky and Taimyrsky.

GLOBAL ZINC & LEAD WRAP: US lead premiums at 2013 levels; zinc stable in China, Europe

Tight supply of lead ingots resulted in an increase in lead premiums in the United States in the week to Tuesday February 23, taking them close to 2013 levels, while zinc premiums remained stable across the world.

GLOBAL COPPER WRAP: Demand boosts European premium; market mostly wary of LME price rise

Copper cathode premiums rose in Europe in the week to Tuesday February 23 due to rebounding demand from end users and economies beginning to recover from winter pandemic lockdowns.