September 2013

Mirabela Nickel to delist from Toronto Stock Exchange

Shares in Australia’s Mirabela Nickel will no longer be traded on the Toronto Stock Exchange (TSX) as the company has applied for a delisting from the Canadian stock market.

CLOSE TO CLOSE: Copper price keeps firming in LME kerb

Copper prices increased slightly on the day in the closing session of the London Metal Exchange, looking positive from a technical perspective as they held above a series of important averages

UC Rusal joins Taman port project

United Co Rusal has joined the Taman dry-cargo port project as a major investor, with the construction of a terminal to transfer aluminium and alloys part of the 228 billion rouble ($7.06 billion) development.

LME OFFICIALS: Copper prices edge up, spreads tighten

Copper prices secured modest gains in Monday’s official trading on the London Metal Exchange and nearby spreads continued to tighten.

Hydro could launch new Otra river company with state power firm

Norsk Hydro has signed a letter of intent with state-owned Agder Energi for the “possible establishment of a jointly owned company to operate and further develop their combined assets on the Otra river”, it said on Friday September 27.

COMMENT: Aluminium contracts – from fixed price to floating and back again?

Spot the difference in the aluminium mating season this year, compared with last.

Rusal signs agreement to convert western Russian smelters

United Co Rusal will convert its loss-making Russian aluminium smelters to the production of vehicle components as well as rolled and cable products, it said on Monday September 30.

[CORRECTION] Abbott, other senior staff collect £19.6m from sale of LME to HKEx

[An earlier version of this story incorrectly reported that Martin Abbott was the sole recipient of awards under the LME's long-term incentive plan. The updated version clarifies that while no other directors participate in the scheme, certain other staff members do. The LME declined to comment on how those awards are shared between Abbott and the other staff.]

Shanghai copper gains capped by uninspiring HSBC PMI

Shanghai Futures Exchange copper rose slightly on Monday September 30, with gains limited by the disappointing HSBC manufacturing activity index and low trading because of the approaching holiday.

HOTLINE: How long will name of Glencore Xstrata last?

Glencore Xstrata is demonstrably well on its way to absorbing the old Xstrata operations into the prevailing Glencore business model and culture.