January 2022

Shanghai copper premiums decrease, US premiums stable

The approaching Chinese New Year holidays and prolonged closure of the London-Shanghai arbitrage window resulted in little spot activity and lower premiums in Shanghai in the week to Wednesday January 19. And volatility in the underlying copper price kept the spot market quiet and premiums in the US stable.

Trafigura, Shalina sign $600 mln financing deal to expand copper, cobalt supplies

Trading house Trafigura has concluded a $600 million financing and marketing deal with vertically-integrated copper cobalt producer Shalina Resources and its subsidiary Chemaf SA, it announced on Wednesday January 19, with the intention of increasing the supply of cobalt hydroxide and copper cathode.

European zinc premiums increase yet again; Asian markets quiet ahead of holidays

Zinc premiums were on the rise in both Europe and the United States in the week to Tuesday January 18, while tightened availability continues to constrain spot markets in both areas, particularly in Europe.

BHP copper production falls 12% in H2 2021, nickel output down 15%

A summary of Australia-based miner BHP’s copper and nickel production results for the six months to 31 December 2021, and its full-year guidance for the 2022 financial year, as released on Wednesday January 19.

Oetinger Aluminium achieves ASI Performance Standard Certification

German aluminium producer Oetinger Aluminium has achieved the Aluminium Stewardship Initiative (ASI) Performance Standard certification with provisional status, the company announced on Wednesday January 19.

Drought lowers Antofagasta copper production but company holds 2022 guidance

A summary of miner Antofagasta's fourth-quarter and 2021 full-year production results, as published by the company on Wednesday January 19.

LME nickel backwardation grows to $473/t

Base metals prices on the London Metal Exchange were mixed during morning trading on Wednesday January 19, with several contracts rising further while others were largely trading sideways.

Aluminium premiums flat amid low activity; European market soars on supply tightness

Aluminium premiums in Europe continued their ascent on Tuesday January 18, amid overall bullish sentiment from market participants and insufficient supply, while markets elsewhere were static due to low liquidity.

Metals consolidate on broader market weakness, but most still upbeat

Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were mixed on the morning of Wednesday January 19 amid headwinds from stronger bond yields and weakness in equities.

Global nickel full plate market steady, but briquette premiums rise in Europe

Global premiums for nickel plate were unchanged in the week to Tuesday January 18 while those for nickel briquette in Europe rose on tight supply.