February 2021

GLOBAL NICKEL WRAP: US cut cathode premium drops, others steady; China’s sulfate price continues climb

Premiums for nickel plate and briquette in China were flat in the week to Tuesday February 23 amid a lack of spot activity, but the nickel sulfate price in the country rose to a fresh all-time high, with a robust domestic electric vehicle (EV) market providing support.

MORNING VIEW: Metals prices consolidate after recent strength, broader markets mixed

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday February 24, with tin on the LME and the SHFE April copper contract in positive territory, while the rest were weaker.

LIVE FUTURES REPORT 24/02: Copper falls after new high of $9,342 per tonne; complex consolidating

The London Metal Exchange three-month copper price fell below $9,200 per tonne on Wednesday February 24, despite hitting a new annual high during earlier trading, with the rest of the base metals complex also trading lower following their recent bullish boost.

GLOBAL ALUMINIUM WRAP: Duty-unpaid tightness boosts Rotterdam, Turkey, Brazil premiums

Aluminium premiums in Rotterdam are at their highest since May 2018, causing premiums to rise in Europe and Brazil, while tight supply also continues to support premiums in the United States.

IN CASE YOU MISSED IT: 5 key stories from February 23

Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.

WEEKLY BASE METAL PREMIUMS REPORT: 23/02

A summary of base metals premiums from across the globe for the week to Tuesday February 23.

LIVE FUTURES REPORT 23/02: Nickel down 3.8% from $20,110/t high; copper firm above $9,200/t at close

Consolidation seeped into the complex on the London Metal Exchange during trading on Tuesday February 23, with copper the only one to close higher and most metals posting lower closing prices versus Monday, when all reached new 2021 highs.

Industry association VDM slams LME discussion paper proposals

Industry association Verband Deutscher Metallhändler (VDM) has slammed proposals by the London Metal Exchange to close its open-outcry trading floor, increases fees and change its margin methodology, saying that these moves would contradict the LME’s core mission to serve the physical metals markets and could lead to the elimination of the exchange’s dates structure.

China’s Jan auto output gain bolsters metal raw materials prices

China’s auto output and sales gained year on year in January due to the government’s continuous efforts to control the Covid-19 pandemic, which helped support the prices of metal raw materials, Fastmarkets understands.

AT A GLANCE: AWAC hits record alumina production in 2020; low prices affect profit

A summary of Alumina Ltd’s full-year 2020 results for the period ending on December 31, 2020.