May 2014

WEEK-IN-BRIEF: Consumers bid up aluminium; another LME lawsuit; a big split in cobalt; Steve Jobs from the archive

What was going on in metal markets as May ended? MB editor Alex Harrison looks back at the week

Transportadora Callao officially opens $163m concs terminal in Peru

Transportadora Callao has officially opened a $163 million concentrates shipping terminal in the Peruvian port city of Callao.

China demand supports EU, UK stainless scrap prices

Merchant prices for 18/8 stainless steel scrap solids in Europe and the UK retained support from Chinese demand, outweighing the end-of-week fall in nickel prices, sources told Steel First on Friday May 30.

LME OFFICIALS: Nickel price rebounds in light volumes

Nickel prices rebounded in thin volumes during official trading on the London Metal Exchange on Friday May 30, as investors re-entered the market.

LORD COPPER: New nickel market is here to stay

Nickel bullishness has been undermined by notions that Indonesia's ore export ban won't stick, but there are good reasons to believe that the country really will build its own processing industry.

German aluminium producer Trimet acquires smelter Voerdal

Trimet Aluminium has acquired the insolvent Voerde Aluminium (Voerdal) smelter in Germany and is retaining its staff, the company said on Wednesday May 28.

Record offers for Q3 MJP premiums as talks continue

The Japanese aluminium buyers are staring at record-high premiums of over $400 per tonne for third quarter delivery, with offers from major producers already above that level.

Shanghai copper prices close higher as investors await key data

The Shanghai Futures Exchange copper prices closed higher on Friday May 30 ahead of the long weekend as investors awaited a clear direction.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*

Limited room for fall in copper prices this year, Jiangxi Copper exec says

The copper market will see an oversupply in concentrates this year rather than refined copper, putting a floor on prices, according to Jiangxi Copper’s vice gm Wu Yuneng.