July 2014

ASIAN MORNING BRIEF: Key metal stories to start August 1

Key metal price moves and stories to set you up for August 1.

Codelco, Jogmec sign mining co-operation agreement

Chile’s Codelco and the Japan Oil, Gas & Metals National Corp [Jogmec] signed an agreement for mining co-operation on Wednesday July 30, Codelco has announced.

Vale's Q2 base metals earnings rise despite maintenance outages

Earnings at Vale’s base metals division continued to advance in the second quarter of 2014, despite major planned maintenance work at the Sudbury operations in eastern Canada.

CLOSE TO CLOSE: Base metal prices drop on profit-taking

Base metal prices dropped during kerb trading on the London Metal Exchange on Thursday July 31, on profit-taking after a month of price rises.

Brazil’s Al premiums stable as players await import tariff reduction

Brazilian aluminium premiums remained unchanged on the week, as market participants awaited more details of an upcoming import tariff reduction for primary metal.

Chinese aluminium prices will stay underpinned for now, market says

Aluminium prices in China are expected to remain underpinned for the near-term as smelters are not keen to hedge yet, according to market participants.

Copper market eyes looser concs supply after Grasberg breakthrough

Treatment and refining charges are pushing back up from four-month lows following the news that copper concentrates from the Grasberg mine in Indonesia will soon start making their way into the Asian market.

LME OFFICIALS: Geopolitical uncertainty, fears of price correction cap momentum

Base metal prices drifted during official trading on the London Metal Exchange on Thursday July 31, as uncertainty over the geopolitical situation and fears of a price correction took momentum out the market.

Sierra Gorda mine begins copper production

The much-vaunted Chilean copper-molybdenum-gold mine Sierra Gorda has begun copper production as operator KGHM announced it has started feeding ore into the process plant.

Al price increase raises alumina pricing question

Alumina index prices are now weaker compared to the price of aluminium than at any time since the industry started the switch to an index pricing system in 2010.