June 2013

UPDATE: Alcoa to close Fusina aluminium smelter

Alcoa is to permanently close its Fusina primary aluminium smelter in Venice, Italy, removing a further 44,000 tonnes from its 4.2 million tonnes a year global smelting system.

MANGANESE ORE INDEX: Prices keep falling on lower offers, poor demand

Manganese ore prices continued falling on Friday June 28 as South African offers remained aggressive amid poor demand from manganese alloys smelters.

LME OFFICIALS: Copper prices tick up on better equities prices and data, PBOC relief

Copper prices firmed in Friday’s official trading on the London Metal Exchange after stronger Chinese equities and encouraging US and European data boosted the overnight session.

Secondary aluminium prices up in Europe on Oetinger news

The news of Oetinger’s insolvency has led to a rise in ingot prices in the European secondary aluminium market.

Trade log June 2013: Aluminium

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

COMMENT: HKEx showed way ahead at LME week Asia, with dragon dance and football shirt

What was the most memorable moment of the first LME Week Asia to be held in Hong Kong?

DRC energy supplier warns customers to expect further electricity cuts

Société Nationale d’Electricité (SNEL), the national electricity company of the Democratic Republic of the Congo (DRC), is warning mining companies in the country to expect more disruption to power supplies, Metal Bulletin understands.

UK 18/8 solids prices slide as merchants lower stocks

UK 18/8 stainless steel scrap solids prices came down this week as national merchants attempted to reduce their stock levels before the summer maintenance shutdown period.

PRICING NOTICE: Correction to US premiums for June 27

As the result of a transmission error, the following US in-warehouse copper premiums for June 27 were updated wrongly on our system.

OBITUARY: Marc Rich, pioneer of modern commodity markets

Marcell David Reich, later Marc Rich, was born in Belgium on December 18, 1934, the only child of Paula Reich-Wang and David Reich, a hard-working businessman whose successes in trading various items including scrap metal, fabrics and clothing afforded his traditional Jewish family a modest middle-class lifestyle in Antwerp.