March 2021

LIVE FUTURES REPORT 30/03: LME lead price up the most with 0.7% gain

London Metal Exchange futures prices were mixed this morning, with tin, lead and nickel posting small gains and the rest of metals falling slightly below their Monday prices on Tuesday March 30 morning, with broader markets acting as headwinds.

MORNING VIEW: Base metals prices mainly firmer, but consolidation dominates

Apart from aluminium, base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were firmer this morning, Tuesday March 30, with broader markets also firmer having partially shook off, for now, contagion worries from last week’s hedge fund troubles.

Lead, zinc TC benchmark negotiations continue amid aggressive bids, offers

The 2021 annual benchmark negotiations for lead and zinc concentrate treatment charges (TCs) continue, with aggressive bids and offers reportedly being pushed by major miners and smelters.

AT A GLANCE: Huayou Cobalt’s revenue climbs 12.4% in 2020

A summary of China-headquartered Huayou Cobalt’s 2020 annual report, released by the company on Tuesday March 30.

IN CASE YOU MISSED IT: 5 key stories from March 29

Here are five Fastmarkets stories you might have missed on Monday March 29 that are worth another look.

LIVE FUTURES REPORT 29/03: LME copper down 1%, aluminium falls from recent highs

Copper’s three-month price was down by 1% and aluminium closed down by $30 per tonne on Monday March 29, while most other base metals metals on the London Metal Exchange also closed lower but the US Dollar Index reached a new high.

China's shift to high-purity copper scrap continues; diversion seen to Europe, Asia

Chinese importers’ shift toward buying No 1 copper material continued during March, with the rejection risk for No 2 copper cargoes remaining a major concern, market sources said.

FOCUS: Soaring demand, limited supply add to challenges for US copper mines

A refrain heard over and over again during Fastmarkets’ virtual Copper Seminar earlier this month was that copper demand is accelerating globally while mining supply remains short.

India's Adani to build copper smelter three years after Tuticorin closure

India's Adani Enterprises will build its first copper cathode facility via a new subsidiary three years after the country's biggest copper smelter - Vedanta’s Tuticorin - was ordered to close.

NEWSBREAK: Q2 MJP aluminium premium settles at $148-149/t, hitting six-year high

Fastmarkets’ premium for the supply of aluminium to main Japanese ports (MJP) in the second quarter of 2021 has settled at $148-149 per tonne on top of the London Metal Exchange cash price, the highest since the second quarter of 2015.