May 2013

UK 18/8 stainless scrap solids prices unchanged on low market activity

Prices for UK 18/8 stainless steel scrap solids went unchanged this week as traders reported low activity and dull market conditions.

LME OFFICIALS: Base metals prices consolidate earlier gains in officials

Base metals consolidated the previous day’s gains in official trading on the London Metal Exchange on Friday May 31, with all metals settling near their opening prices, with the exception of copper, which dipped back below $7,300.

MILLING ABOUT: Trafigura names Jansma as head of structured and trade finance

Stephan Jansma will join Trafigura as group head of structured and trade finance in August, the company announced on Tuesday May 28.

Codelco’s Q1 earnings slide; looks to reduce costs

Chilean copper miner Codelco registered a 30% year-on-year fall in earnings in the first quarter of 2013, citing port strikes in Chile and weak copper prices as the reasons for the drop.

Trade log May 2013: Aluminium

The latest aluminium transactions and assessments, for the month commencing May 1. All prices relate to in-warehouse premiums, unless otherwise stated.

Copper price volatility to remain in short term, says Codelco’s Arriagada

Copper price volatility will remain in the short term, but fundamentals for the red metal are positive for the medium and long term, according to Codelco’s vp of administration and finances, Iván Arriagada.

Shanghai copper price ends week higher even as supply outlook tames gains

Shanghai Futures Exchange copper price ended the week higher on Friday May 31, though market participants raised concerns over possible rise in supply in the coming months.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*

MILLING ABOUT: Chilean president names new Codelco director

Chilean president Sebastián Piñera has named Blas Tomic as the new director of Codelco and renewed Gerardo Jofré Miranda’s term as chairman.

LME ASIAN WRAP: Copper price up as market awaits cues on Chinese demand

London Metal Exchange copper price was up during the Asian morning session on Friday May 31 on hopes that the US Federal Reserve will continue its bond-buying programme.